Oceaneering International Inc (OII)

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	2,424,706	2,306,300	2,230,791	2,156,912	2,066,084	1,996,570	1,903,713	1,877,881	1,869,275	1,826,828	1,799,757	1,728,774	1,827,889	1,964,437	2,022,341	2,090,906	2,048,124	1,982,409	2,004,062	1,986,955
Property, plant and equipment	US$ in thousands	424,293	421,820	426,054	427,370	438,449	434,586	455,304	480,259	489,596	510,728	537,909	561,650	591,107	609,426	647,864	671,828	776,532	946,381	947,787	955,739
Fixed asset turnover		5.71	5.47	5.24	5.05	4.71	4.59	4.18	3.91	3.82	3.58	3.35	3.08	3.09	3.22	3.12	3.11	2.64	2.09	2.11	2.08

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,424,706K ÷ $424,293K
= 5.71

Oceaneering International, Inc.'s fixed asset turnover has shown a consistent upward trend over the past eight quarters. As of Q4 2023, the company achieved a fixed asset turnover ratio of 5.71, which indicates that for every dollar invested in fixed assets, the company generated $5.71 in revenue. This signifies an efficient utilization of fixed assets to generate sales revenue.

The increasing trend in fixed asset turnover from Q1 2022 to Q4 2023 suggests that Oceaneering International, Inc. has been able to improve its operational efficiency in utilizing its fixed assets to drive revenue generation. This improvement may be attributed to better asset management, operational effectiveness, and cost control measures implemented by the company during this period.

The consistent growth in fixed asset turnover reflects positively on Oceaneering International, Inc.'s ability to effectively manage its fixed assets and generate revenue from them. This ratio provides insight into the company's operational efficiency and effectiveness in utilizing its assets to drive sales, indicating a healthy and productive asset base that contributes significantly to the company's overall financial performance.