Penumbra Inc (PEN)

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	1,194,615	1,163,776	1,133,683	1,095,779	1,058,522	995,059	937,791	884,636	847,133	829,928	806,367	782,281	747,590	710,477	671,436	592,287	560,412	538,777	527,203	556,295
Property, plant and equipment	US$ in thousands	—	—	—	—	—	281,516	65,958	65,224	290,974	64,082	275,624	60,327	227,087	56,632	180,676	50,314	48,169	64,906	142,784	141,153
Fixed asset turnover		—	—	—	—	—	3.53	14.22	13.56	2.91	12.95	2.93	12.97	3.29	12.55	3.72	11.77	11.63	8.30	3.69	3.94

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,194,615K ÷ $—K
= —

The fixed asset turnover ratio measures how efficiently a company is generating sales revenue from its investment in fixed assets. Penumbra Inc's fixed asset turnover ratio fluctuated over the period from March 31, 2020, to June 30, 2024, as follows:

- The ratio started at 3.94 in March 2020 and showed a decreasing trend until December 2020, reaching a low of 3.29.
- Subsequently, the ratio sharply increased to 13.56 by March 2023, signaling a significant improvement in the company's ability to generate revenue from its fixed assets.
- This high ratio was sustained and even further improved, reaching 14.22 by June 30, 2023, suggesting efficient utilization of fixed assets to drive sales.
- However, the ratio dropped to 3.53 by September 30, 2023, indicating a slight decline in the efficiency of fixed asset utilization.
- The data for the period from December 31, 2023, to June 30, 2024, is not available, leading to uncertainty about the company's recent performance in terms of fixed asset turnover.

Overall, it is essential for Penumbra Inc to closely monitor its fixed asset turnover ratio to ensure optimal utilization of fixed assets in generating sales revenue and to sustain or improve efficiency over time.