Enpro Industries (NPO)
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 | 1,013,100 | 1,047,200 | 1,078,000 | 1,139,100 | 1,189,800 | 1,130,600 | 1,139,000 | 1,108,000 | 1,061,700 | 1,115,600 | 1,100,800 | 1,049,300 | 1,052,000 | 1,071,900 | 1,180,600 | 1,324,500 | 1,406,800 | 1,501,700 | 1,516,900 | 1,523,500 |
| Property, plant and equipment | US$ in thousands | 193,800 | 186,000 | 185,600 | 184,700 | 185,200 | 170,500 | 224,100 | 231,300 | 184,300 | 182,200 | 189,600 | 191,000 | 195,000 | 182,500 | 206,400 | 208,900 | 218,800 | 284,900 | 289,600 | 294,000 |
| Fixed asset turnover | 5.23 | 5.63 | 5.81 | 6.17 | 6.42 | 6.63 | 5.08 | 4.79 | 5.76 | 6.12 | 5.81 | 5.49 | 5.39 | 5.87 | 5.72 | 6.34 | 6.43 | 5.27 | 5.24 | 5.18 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,013,100K ÷ $193,800K
= 5.23
The fixed asset turnover ratio for Enpro Inc has shown some fluctuations over the past eight quarters. The ratio ranged from a low of 5.15 in Q1 2022 to a high of 7.17 in Q3 2022, indicating variations in how efficiently the company is generating revenue from its fixed assets.
From Q1 2022 to Q3 2022, there was a notable increase in the fixed asset turnover ratio, suggesting that the company was utilizing its fixed assets more effectively to generate sales during this period. However, the ratio dipped to 5.15 in Q1 2022 before recovering in subsequent quarters.
In Q4 2022, the fixed asset turnover ratio was at 5.94, indicating a moderate decline from the peak in Q3 2022. The ratio continued to decrease in the following quarters, with values of 5.70 in Q1 2023, 5.37 in Q2 2023, and 5.20 in Q3 2023.
The latest data point for Q4 2023 shows a slight improvement in the fixed asset turnover ratio, reaching 5.47. This suggests a potential uptick in the company's ability to generate sales relative to its investment in fixed assets compared to the previous quarter.
Overall, while the fixed asset turnover ratio has experienced some variability, Enpro Inc has generally maintained a solid level of efficiency in utilizing its fixed assets to generate revenue over the past eight quarters. Keeping track of this ratio can help assess the company's operational efficiency and asset utilization in the future.