MYR Group Inc (MYRG)
Fixed asset turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,643,182 | 3,503,201 | 3,363,351 | 3,182,690 | 3,007,357 | 2,790,230 | 2,601,725 | 2,543,615 | 2,499,388 | 2,461,226 | 2,457,936 | 2,320,105 | 2,245,418 | 2,208,523 | 2,183,497 | 2,119,856 | 2,069,209 | 1,944,479 | 1,761,776 | 1,652,918 |
| Property, plant and equipment | US$ in thousands | 266,615 | 253,805 | 244,738 | 234,916 | 229,937 | 214,383 | 207,090 | 202,140 | 196,092 | 184,863 | 185,009 | 180,956 | 184,724 | 185,250 | 181,711 | 184,466 | 185,344 | 178,432 | 168,972 | 162,565 |
| Fixed asset turnover | 13.66 | 13.80 | 13.74 | 13.55 | 13.08 | 13.02 | 12.56 | 12.58 | 12.75 | 13.31 | 13.29 | 12.82 | 12.16 | 11.92 | 12.02 | 11.49 | 11.16 | 10.90 | 10.43 | 10.17 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,643,182K ÷ $266,615K
= 13.66
MYR Group Inc's fixed asset turnover has been consistently high over the past eight quarters, ranging from 12.27 to 13.67. This indicates that the company efficiently utilizes its fixed assets to generate revenue. A high fixed asset turnover ratio suggests that MYR Group Inc effectively manages and utilizes its fixed assets to generate sales. The trend of increasing fixed asset turnover ratios over the past quarters further demonstrates the company's ability to continuously improve its asset utilization efficiency. Overall, MYR Group Inc's strong fixed asset turnover ratios reflect its operational efficiency in generating revenue from its fixed assets.
Peer comparison
Dec 31, 2023