Impinj Inc (PI)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 302,856 | 254,853 | 189,633 | 135,412 | 152,262 |
| Property, plant and equipment | US$ in thousands | 44,891 | 39,027 | 27,500 | 16,531 | 17,442 |
| Fixed asset turnover | 6.75 | 6.53 | 6.90 | 8.19 | 8.73 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $302,856K ÷ $44,891K
= 6.75
Impinj Inc's fixed asset turnover has shown a consistent trend over the past five years. The company's fixed asset turnover ratio has ranged from 6.53 to 8.73 during this period, indicating the company's ability to generate sales revenue relative to its investment in fixed assets.
A high fixed asset turnover ratio suggests that Impinj Inc efficiently utilizes its fixed assets to generate sales, which is a positive sign of operational efficiency. However, there has been a slight decrease in the ratio from 2019 to 2022, which may warrant further analysis to understand the factors contributing to this trend.
Overall, while Impinj Inc's fixed asset turnover remains relatively high and stable, it is worth monitoring any shifts in this ratio to assess the company's ongoing operational performance and asset utilization efficiency.
Peer comparison
Dec 31, 2023