NeoGenomics Inc (NEO)
Fixed asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 660,566 | 644,118 | 628,248 | 610,663 | 591,643 | 574,796 | 551,624 | 529,779 | 509,728 | 496,755 | 489,313 | 485,965 | 484,329 | 484,594 | 488,698 | 453,951 | 444,448 | 425,319 | 404,547 | 419,283 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 100,110 | 102,845 | 102,499 | 106,818 | 211,022 | 210,897 | 211,662 | 107,172 | 166,766 | 94,315 | 85,873 | 85,449 | 83,969 | 83,392 |
| Fixed asset turnover | — | — | — | — | — | — | 5.51 | 5.15 | 4.97 | 4.65 | 2.32 | 2.30 | 2.29 | 4.52 | 2.93 | 4.81 | 5.18 | 4.98 | 4.82 | 5.03 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $660,566K ÷ $—K
= —
Fixed asset turnover is a financial ratio that measures how efficiently a company is generating revenue from its fixed assets. A higher fixed asset turnover ratio indicates that the company is utilizing its fixed assets effectively to generate revenue.
Analyzing the fixed asset turnover ratio of NeoGenomics Inc over the period provided reveals fluctuating trends. From March 31, 2020, to March 31, 2023, the ratio ranged from 4.81 to 5.51, indicating consistent and efficient use of fixed assets to generate revenue during this period.
However, a significant drop in the fixed asset turnover ratio is observed in the subsequent quarters, with the ratio declining to 2.93 in June 30, 2021, and further dropping to 2.29 in December 31, 2021. The ratio remained relatively low in the following quarters, hovering around 2.30 to 2.32, indicating a potential decline in the efficiency of utilizing fixed assets to generate revenue.
The ratio showed signs of improvement in the later quarters of 2022, reaching 4.97 in December 31, 2022, and 5.15 in March 31, 2023. However, the data for the latter half of 2023 and 2024 is missing, making it difficult to draw conclusive insights for these periods.
Overall, fluctuations in the fixed asset turnover ratio of NeoGenomics Inc indicate varying levels of efficiency in utilizing fixed assets to generate revenue over the analyzed period. It is essential for the company to monitor and optimize its fixed asset utilization to ensure sustainable growth and profitability in the long run.