Patrick Industries Inc (PATK)

Fixed asset turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 3,715,680 3,468,040 4,881,870 4,078,090 2,486,600
Property, plant and equipment US$ in thousands 350,572 477,676 251,493
Fixed asset turnover 13.93 8.54 9.89

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,715,680K ÷ $—K
= —

The fixed asset turnover ratio measures a company's ability to generate sales revenue relative to its investment in fixed assets. For Patrick Industries Inc, the fixed asset turnover has shown variability over the years. In 2020, the ratio was 9.89, indicating that the company generated approximately $9.89 in sales for every $1 of fixed assets invested. The ratio decreased to 8.54 in 2021, suggesting a decrease in asset utilization efficiency.

However, there was a significant increase in the fixed asset turnover to 13.93 in 2022, reflecting a substantial improvement in the company's efficiency in generating sales from its fixed assets. The absence of data for 2023 and 2024 limits the ability to analyze the trend further.

Overall, the fluctuation in the fixed asset turnover ratio for Patrick Industries Inc indicates varying levels of efficiency in utilizing its fixed assets to generate sales revenue during the analyzed period. Additional information from the missing years would be necessary to provide a more comprehensive analysis of the company's asset utilization efficiency.