Omnicell Inc (OMCL)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,187,990 | 1,342,310 | 1,144,190 | 925,486 | 945,018 |
| Property, plant and equipment | US$ in thousands | 108,601 | 93,961 | 71,141 | 59,073 | 54,246 |
| Fixed asset turnover | 10.94 | 14.29 | 16.08 | 15.67 | 17.42 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,187,990K ÷ $108,601K
= 10.94
Omnicell, Inc.'s fixed asset turnover has shown a decreasing trend over the past five years, starting at 16.54 in 2019 and dropping to 10.56 in 2023. This indicates that the company's ability to generate sales from its fixed assets has weakened over time. A lower fixed asset turnover ratio may suggest either a decline in sales relative to the amount of fixed assets employed or an increase in the carrying value of fixed assets on the company's balance sheet.
It is important to note that fixed asset turnover should be analyzed in conjunction with other financial metrics and qualitative factors to gain a comprehensive understanding of Omnicell's operational efficiency and asset utilization. Further investigation into the company's management of fixed assets, investment decisions, and overall business strategy may provide additional insights into the reasons behind the declining trend in fixed asset turnover.
Peer comparison
Dec 31, 2023