O’Reilly Automotive Inc (ORLY)

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	15,673,280	15,485,750	15,089,740	14,703,610	14,301,060	13,948,060	13,635,980	13,430,250	13,222,560	12,759,840	12,481,270	12,103,380	11,487,200	11,141,410	10,606,010	10,111,240	10,049,160	9,881,140	9,700,550	9,569,440
Property, plant and equipment	US$ in thousands	5,036,980	4,888,180	4,702,200	4,559,060	4,424,040	4,343,820	4,282,410	4,236,630	4,213,520	4,201,680	4,164,150	4,112,900	4,094,920	4,072,900	4,038,480	4,008,640	3,948,200	3,870,710	3,754,350	3,676,710
Fixed asset turnover		3.11	3.17	3.21	3.23	3.23	3.21	3.18	3.17	3.14	3.04	3.00	2.94	2.81	2.74	2.63	2.52	2.55	2.55	2.58	2.60

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $15,673,280K ÷ $5,036,980K
= 3.11

O`Reilly Automotive, Inc.'s fixed asset turnover has been relatively stable over the past eight quarters, with values ranging from 3.14 to 3.26. The fixed asset turnover ratio measures the company's efficiency in generating sales revenue from its investment in fixed assets.

The consistent values around 3.20 indicate that the company has been effectively utilizing its fixed assets to generate sales throughout the periods analyzed. A high fixed asset turnover ratio suggests that the company is efficient in using its assets to generate revenue.

Overall, O`Reilly Automotive, Inc.'s fixed asset turnover ratio reflects a consistent and efficient utilization of fixed assets to drive sales revenue, which is a positive indicator of the company's operational efficiency and asset management.