Paycom Soft (PAYC)

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	1,691,704	1,627,240	1,554,308	1,470,341	1,373,921	1,289,146	1,211,791	1,137,067	1,054,755	990,668	931,006	870,744	841,015	813,477	792,091	779,562	736,337	693,260	651,802	611,547
Property, plant and equipment	US$ in thousands	498,197	468,282	444,992	421,017	402,448	383,860	374,940	362,505	348,953	329,296	320,997	301,579	285,218	275,624	266,831	254,423	238,458	224,035	196,371	187,511
Fixed asset turnover		3.40	3.47	3.49	3.49	3.41	3.36	3.23	3.14	3.02	3.01	2.90	2.89	2.95	2.95	2.97	3.06	3.09	3.09	3.32	3.26

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,691,704K ÷ $498,197K
= 3.40

Paycom Software Inc's fixed asset turnover has shown a consistent increasing trend over the past eight quarters, ranging from 3.14 to 3.50. This indicates that the company is generating more revenue per dollar of fixed assets invested, reflecting efficiency in asset utilization. The latest fixed asset turnover ratio of 3.50 in Q2 2023 suggests that for every dollar invested in fixed assets, Paycom Software Inc generated $3.50 in revenue during that period. This implies that the company is effectively using its fixed assets to drive revenue growth. Overall, the improving trend in fixed asset turnover signals effective management of assets and operational performance by Paycom Software Inc.