Myriad Genetics Inc (MYGN)

Fixed asset turnover

		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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Revenue (ttm)	US$ in thousands	817,300	794,900	766,400	745,400	731,500	696,200	691,900	675,200	820,600	831,200	839,900	846,300	666,200	590,100	564,400	586,600	627,900	750,000	801,700	822,500
Property, plant and equipment	US$ in thousands	115,400	116,300	118,500	119,000	120,700	112,000	96,300	83,400	67,500	52,800	45,700	43,500	43,400	43,200	45,100	36,700	37,000	37,100	36,500	55,000
Fixed asset turnover		7.08	6.83	6.47	6.26	6.06	6.22	7.18	8.10	12.16	15.74	18.38	19.46	15.35	13.66	12.51	15.98	16.97	20.22	21.96	14.95

September 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $817,300K ÷ $115,400K
= 7.08

The fixed asset turnover ratio for Myriad Genetics Inc has displayed fluctuations over the past few quarters, indicating varying efficiency in generating revenue from its fixed assets. The ratio has generally been on an upward trend, with occasional dips.

In the most recent quarter, the fixed asset turnover stood at 7.08, which suggests that the company generated $7.08 in revenue for every dollar invested in fixed assets during that period. This ratio has been consistently above 6 in the past few quarters.

The peak turnover ratio of 21.96 observed in the third quarter of 2019 marks a period of exceptionally efficient utilization of fixed assets. However, since then, there has been a gradual decline in the ratio, which could potentially indicate suboptimal utilization of fixed assets or slower revenue growth compared to the growth in fixed assets.

Overall, while Myriad Genetics Inc has shown strong efficiency in generating revenue from its fixed assets in recent quarters, there may be areas for improvement to maintain or enhance this efficiency over time.