Par Pacific Holdings Inc (PARR)

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	8,174,420	7,803,130	7,283,650	7,602,180	7,263,690	6,745,960	5,998,020	5,106,960	4,643,589	4,081,364	3,458,832	2,757,379	3,072,260	3,755,885	4,466,717	5,356,960	5,344,170	4,824,152	4,340,218	3,796,940
Property, plant and equipment	US$ in thousands	1,073,840	1,076,410	1,079,420	820,419	815,792	820,636	828,074	840,795	833,546	851,768	863,654	876,465	924,253	942,384	943,981	959,098	961,943	962,223	960,168	956,341
Fixed asset turnover		7.61	7.25	6.75	9.27	8.90	8.22	7.24	6.07	5.57	4.79	4.00	3.15	3.32	3.99	4.73	5.59	5.56	5.01	4.52	3.97

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $8,174,420K ÷ $1,073,840K
= 7.61

The fixed asset turnover ratio measures how efficiently a company is generating sales revenue from its investments in fixed assets.

Looking at the fixed asset turnover ratios for Par Pacific Holdings Inc over the past eight quarters, we can see some fluctuations in the efficiency of how the company is utilizing its fixed assets:

- In Q1 2023, the fixed asset turnover ratio was 9.21, indicating that the company generated $9.21 in sales for every dollar invested in fixed assets. This suggests a high level of efficiency in utilizing its fixed assets to drive revenue.
- This high efficiency was followed by a slight decrease in Q2 2023, with a ratio of 6.73, but then improved in Q3 2023 (7.22) and Q4 2023 (7.49).
- Comparing the ratios to the same quarters in the previous year, there is an overall increasing trend, with Q1 and Q4 showing significant improvement year-over-year.

Overall, the company has shown a general improvement in its ability to generate sales from its fixed assets over the past year. However, it is important to continue monitoring this ratio to ensure that the company is efficiently utilizing its fixed assets to drive revenue growth.