National HealthCare Corporation (NHC)
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 | 1,307,382 | 1,238,946 | 1,187,233 | 1,169,157 | 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 |
| Property, plant and equipment | US$ in thousands | 684,289 | 686,425 | 487,193 | 488,698 | 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 |
| Fixed asset turnover | 1.91 | 1.80 | 2.44 | 2.39 | 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 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,307,382K ÷ $684,289K
= 1.91
The fixed asset turnover ratio of National HealthCare Corporation has exhibited fluctuations over the past several quarters. The ratio has shown an increasing trend from 1.86 as of March 31, 2020, to 2.44 as of June 30, 2024, with some minor fluctuations in between. This indicates that the company has been generating more revenue per dollar of fixed assets invested over time.
However, there was a noticeable decline in the fixed asset turnover ratio in the third quarter of 2024, dropping to 1.80, followed by a slight improvement to 1.91 by the end of December 31, 2024. This decline suggests that the efficiency of utilizing fixed assets to generate sales revenue decreased during this period.
Overall, the upward trend in the fixed asset turnover ratio signals improved asset utilization efficiency, which is a positive indicator of the company's operational performance. However, the recent decline in the ratio may warrant further investigation to assess the factors contributing to this change and evaluate its potential impact on the company's financial performance in the future.
Peer comparison
Dec 31, 2024