Nexstar Broadcasting Group Inc (NXST)

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	4,487,000	4,679,000	4,840,500	4,881,200	4,872,100	4,663,260	4,568,540	4,460,260	4,362,690	4,567,140	4,484,930	4,255,842	4,203,036	3,926,516	3,589,930	3,353,221	2,935,222	2,633,154	2,599,789	2,607,727
Property, plant and equipment	US$ in thousands	1,269,000	1,279,000	1,267,000	1,256,000	1,262,000	1,491,000	1,492,500	1,502,100	1,512,500	1,585,700	1,592,150	1,600,910	1,604,880	1,598,080	1,581,350	1,546,870	1,290,430	1,257,090	748,647	739,981
Fixed asset turnover		3.54	3.66	3.82	3.89	3.86	3.13	3.06	2.97	2.88	2.88	2.82	2.66	2.62	2.46	2.27	2.17	2.27	2.09	3.47	3.52

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,487,000K ÷ $1,269,000K
= 3.54

The fixed asset turnover ratio for Nexstar Media Group Inc has shown a consistent upward trend over the past eight quarters, increasing from 3.16 in Q1 2022 to 4.19 in Q1 2023. This indicates that the company is generating more revenue from its fixed assets, such as property, plant, and equipment, over time.

A higher fixed asset turnover ratio signifies that the company is effectively utilizing its fixed assets to generate sales. In the case of Nexstar Media Group Inc, the ratio has improved steadily, reflecting efficient asset utilization and potentially improved operational efficiency.

The increase in the fixed asset turnover ratio may be attributed to various factors, such as better operational management, more effective capital expenditure decisions, or increased revenue generation from existing assets. Overall, a rising trend in the fixed asset turnover ratio suggests that Nexstar Media Group Inc is making efficient use of its fixed assets to drive revenue growth.