MYR Group Inc (MYRG)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Property, plant and equipment | US$ in thousands | 266,615 | 229,937 | 196,092 | 184,724 | 185,344 |
| Fixed asset turnover | 13.66 | 13.08 | 12.75 | 12.16 | 11.16 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,643,180K ÷ $266,615K
= 13.66
Fixed asset turnover ratio measures how efficiently a company utilizes its fixed assets to generate revenue. A higher ratio indicates more efficient utilization of fixed assets. MYR Group Inc's fixed asset turnover has been steadily increasing over the past five years, reaching 13.55 in 2023 from 11.17 in 2019. This suggests that the company is effectively generating revenue from its investment in fixed assets. The consistent increase in this ratio indicates an improvement in the company's operational efficiency and productivity in utilizing its fixed assets. Overall, MYR Group Inc's fixed asset turnover reflects a positive trend of enhanced asset efficiency and revenue generation over the years.
Peer comparison
Dec 31, 2023