Novanta Inc (NOVT)
Fixed asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 949,722 | 879,785 | 859,523 | 705,061 | 588,129 |
| Property, plant and equipment | US$ in thousands | 113,135 | 109,449 | 103,186 | 87,439 | 78,676 |
| Fixed asset turnover | 8.39 | 8.04 | 8.33 | 8.06 | 7.48 |
December 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $949,722K ÷ $113,135K
= 8.39
Novanta Inc's fixed asset turnover has shown a positive trend over the past five years, increasing from 7.48 in December 31, 2020 to 8.39 in December 31, 2024. This indicates that the company is generating more sales revenue relative to its investment in fixed assets. The steady improvement in fixed asset turnover suggests that Novanta is effectively utilizing its fixed assets to drive revenue growth and enhance operational efficiency. Overall, the increasing trend in fixed asset turnover is a positive indicator of the company's operational performance and efficiency in managing its fixed assets.
Peer comparison
Dec 31, 2024