Neurocrine Biosciences Inc (NBIX)

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	1,882,900	1,779,300	1,668,300	1,522,900	1,411,600	1,306,100	1,208,800	1,185,500	1,107,700	1,050,200	1,010,800	1,022,200	1,020,900	1,017,010	981,066	862,604	764,254	651,736	581,765	503,032
Property, plant and equipment	US$ in thousands	70,800	68,800	65,600	62,800	58,600	60,900	66,800	63,900	58,600	51,100	50,000	45,300	44,600	43,000	44,600	41,900	41,900	40,302	39,623	36,661
Fixed asset turnover		26.59	25.86	25.43	24.25	24.09	21.45	18.10	18.55	18.90	20.55	20.22	22.57	22.89	23.65	22.00	20.59	18.24	16.17	14.68	13.72

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,882,900K ÷ $70,800K
= 26.59

Neurocrine Biosciences, Inc. has shown a consistently high fixed asset turnover ratio over the past eight quarters, ranging from 18.90 to 26.65. This indicates that the company generates substantial revenue relative to its investment in fixed assets. The increasing trend in the fixed asset turnover ratio suggests that Neurocrine Biosciences is becoming more efficient in utilizing its fixed assets to generate sales. This can be a positive sign of operational efficiency and effective asset management within the organization. However, it's important to note that a very high fixed asset turnover ratio may also indicate that the company may be underinvesting in its fixed assets, which could potentially affect its long-term growth prospects.