Patrick Industries Inc (PATK)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	3,715,679	3,650,743	3,597,372	3,501,437	3,468,045	3,638,773	3,884,790	4,439,795	4,881,875	5,077,440	5,025,530	4,569,790	4,078,093	3,703,226	3,343,753	2,747,848	2,486,597	2,263,444	2,128,923	2,318,096
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	363,261	353,599	350,572	507,987	505,255	498,878	477,676	451,889	437,598	256,213	251,493	197,415	184,797	189,129
Fixed asset turnover		—	—	—	—	—	—	10.69	12.56	13.93	10.00	9.95	9.16	8.54	8.19	7.64	10.72	9.89	11.47	11.52	12.26

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,715,679K ÷ $—K
= —

Patrick Industries Inc's fixed asset turnover ratio has shown some fluctuations over the years. The ratio was strong at the beginning of the analyzed period, with values ranging from 9.89 to 12.26. This indicates that the company efficiently utilized its fixed assets to generate sales revenue during that time.

However, from March 31, 2021, to June 30, 2022, there was a significant decline in the fixed asset turnover ratio, dropping to as low as 7.64. This suggests a potential decrease in the efficiency of utilizing fixed assets to generate sales during this period.

Subsequently, there was a gradual improvement in the fixed asset turnover ratio from September 30, 2022, to December 31, 2022, reaching a peak of 13.93. This indicates a recovery in the company's ability to generate sales from its fixed assets efficiently.

As of March 31, 2023, the fixed asset turnover ratio declined slightly to 12.56, still showing strong efficiency in utilizing fixed assets to generate revenue. However, there is missing data for the later periods, making it difficult to provide a comprehensive analysis beyond this point.

In conclusion, while Patrick Industries Inc has experienced fluctuations in its fixed asset turnover ratio over the years, it has generally demonstrated efficiency in generating sales from its fixed assets, with some periods of variability in performance.