National HealthCare Corporation (NHC)
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 | 1,141,544 | 1,105,183 | 1,087,541 | 1,076,318 | 1,085,738 | 1,104,619 | 1,110,513 | 1,102,312 | 1,074,302 | 1,050,693 | 1,024,582 | 1,023,066 | 1,028,217 | 1,022,272 | 1,018,713 | 1,004,222 | 996,383 | 991,423 | 990,682 | 985,673 |
| Property, plant and equipment | US$ in thousands | 493,329 | 498,266 | 501,890 | 503,124 | 506,532 | 511,373 | 515,771 | 520,201 | 520,996 | 522,019 | 519,617 | 514,484 | 520,318 | 530,616 | 535,964 | 540,620 | 535,430 | 539,604 | 544,586 | 532,804 |
| Fixed asset turnover | 2.31 | 2.22 | 2.17 | 2.14 | 2.14 | 2.16 | 2.15 | 2.12 | 2.06 | 2.01 | 1.97 | 1.99 | 1.98 | 1.93 | 1.90 | 1.86 | 1.86 | 1.84 | 1.82 | 1.85 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,141,544K ÷ $493,329K
= 2.31
The fixed asset turnover for National Healthcare Corp. has shown a consistent upward trend over the eight quarters presented. The ratio has steadily increased from 2.02 in Q1 2022 to 2.30 in Q4 2023. This indicates that the company is generating more revenue relative to its investment in fixed assets, which is a positive sign of efficiency in utilizing its assets to generate sales.
The increasing fixed asset turnover ratio suggests that National Healthcare Corp. has been able to effectively manage and utilize its fixed assets to generate sales over the period. This may be attributed to improvements in operational efficiency, better asset utilization, or increased productivity within the company.
Overall, the trend of the fixed asset turnover ratio for National Healthcare Corp. reflects positively on the company's ability to generate revenue from its fixed assets and indicates efficient management of its asset base.
Peer comparison
Dec 31, 2023