Meritage Corporation (MTH)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	6,378,530	6,428,070	6,461,290	6,327,060	6,137,610	6,475,460	6,439,460	6,290,680	6,298,160	5,804,090	5,484,860	5,350,400	5,147,330	5,058,390	4,936,380	4,690,430	4,506,306	4,231,586	4,035,343	3,869,074
Property, plant and equipment	US$ in thousands	—	—	—	—	—	50,822	47,312	41,702	38,635	39,437	39,030	38,299	37,340	36,595	36,224	37,308	38,933	42,730	46,299	49,180
Fixed asset turnover		—	—	—	—	—	127.41	136.11	150.85	163.02	147.17	140.53	139.70	137.85	138.23	136.27	125.72	115.75	99.03	87.16	78.67

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $6,378,530K ÷ $—K
= —

The fixed asset turnover of Meritage Corporation has shown a generally increasing trend from March 31, 2020, to September 30, 2022, indicating that the company is generating more sales revenue from its fixed assets. The ratio started at 78.67 on March 31, 2020, and steadily increased to 147.17 by September 30, 2022, reflecting efficient utilization of the company's fixed assets to generate sales.

However, there was a notable decline in fixed asset turnover in the subsequent periods from December 31, 2022, to March 31, 2023, dropping to 150.85. This could indicate a temporary slowdown in sales relative to the level of fixed assets during that period.

Further, there was a significant decrease in fixed asset turnover in the following periods from June 30, 2023, to December 31, 2023, reaching 127.41. This decline suggests that the company may not be efficiently utilizing its fixed assets to generate sales revenue during this period.

The data for the periods beyond December 31, 2023, is not available, as indicated by the absence of figures for the subsequent dates.

Overall, the analysis of Meritage Corporation's fixed asset turnover indicates fluctuations in the efficiency of utilizing fixed assets to generate sales revenue. Monitoring this ratio over time will be crucial for assessing the company's operational performance and efficiency in capital utilization.