Inari Medical Inc (NARI)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 493,364 | 383,471 | 276,984 | 139,670 |
| Property, plant and equipment | US$ in thousands | 20,929 | 21,655 | 16,471 | 7,498 |
| Fixed asset turnover | 23.57 | 17.71 | 16.82 | 18.63 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $493,364K ÷ $20,929K
= 23.57
The fixed asset turnover ratio of Inari Medical Inc has shown a trend of improvement over the past four years. In 2023, the fixed asset turnover ratio was 23.59, which indicates that the company generated $23.59 in sales for every dollar invested in fixed assets during the year. This represents a significant increase from the ratio of 17.71 in 2022, 16.82 in 2021, and 18.63 in 2020.
The rising trend in the fixed asset turnover ratio suggests that Inari Medical Inc has been able to utilize its fixed assets more efficiently to generate revenue over time. This improvement could be attributed to better asset management practices, operational efficiencies, or the successful utilization of fixed assets to support the company's core business activities. Overall, the increasing trend in the fixed asset turnover ratio indicates positive operational performance and financial efficiency for Inari Medical Inc.
Peer comparison
Dec 31, 2023