Inari Medical Inc (NARI)

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
Revenue (ttm)	US$ in thousands	493,364	469,933	439,579	413,142	382,874	346,212	335,938	306,140	276,785	257,782	209,685	171,036
Property, plant and equipment	US$ in thousands	20,929	21,243	21,063	21,245	21,655	21,191	20,076	18,153	16,471	14,748	10,827	6,584	7,498	5,476	4,176
Fixed asset turnover		23.57	22.12	20.87	19.45	17.68	16.34	16.73	16.86	16.80	17.48	19.37	25.98

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $493,364K ÷ $20,929K
= 23.57

Fixed asset turnover is a financial ratio that measures a company's ability to generate revenue from its investments in fixed assets. Inari Medical Inc's fixed asset turnover has shown a consistent increasing trend over the past eight quarters, indicating improved efficiency in utilizing its fixed assets to generate sales.

The company's fixed asset turnover ratio ranged from 16.72 in Q2 2022 to 23.59 in Q4 2023. This indicates that for every dollar invested in fixed assets, the company generated $23.59 in revenue in Q4 2023, compared to $16.72 in revenue in Q2 2022.

The increasing trend in fixed asset turnover signifies that Inari Medical Inc has been effectively utilizing its fixed assets to drive sales growth and generate higher revenue. This improved efficiency in asset utilization is a positive indicator of the company's operational performance and overall financial health.