Impinj Inc (PI)
Fixed asset turnover
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 342,903 | 311,497 | 293,777 | 302,856 | 309,132 | 312,899 | 287,164 | 254,853 | 231,051 | 208,634 | 196,812 | 189,633 | 173,091 | 155,260 | 133,625 | 135,412 | 141,389 | 154,427 | 166,613 | 152,691 |
| Property, plant and equipment | US$ in thousands | 49,908 | 47,209 | 47,451 | 44,891 | 44,923 | 45,077 | 41,800 | 39,027 | 31,121 | 28,726 | 29,133 | 27,500 | 28,638 | 26,306 | 20,797 | 16,531 | 16,365 | 16,294 | 16,923 | 17,442 |
| Fixed asset turnover | 6.87 | 6.60 | 6.19 | 6.75 | 6.88 | 6.94 | 6.87 | 6.53 | 7.42 | 7.26 | 6.76 | 6.90 | 6.04 | 5.90 | 6.43 | 8.19 | 8.64 | 9.48 | 9.85 | 8.75 |
September 30, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $342,903K ÷ $49,908K
= 6.87
Fixed asset turnover measures how efficiently a company generates revenue from its fixed assets. Impinj Inc's fixed asset turnover has displayed some fluctuation over the past 20 quarters, ranging from a low of 5.90 to a high of 9.85. The average fixed asset turnover ratio over this period is around 7.50, indicating that Impinj is effectively utilizing its fixed assets to generate sales.
Furthermore, the trend in fixed asset turnover seems to be relatively stable with some minor ups and downs. In the most recent quarter, the ratio was 6.87, which is slightly above the average. This suggests that the company continues to efficiently use its fixed assets to generate revenue.
Overall, the consistent performance of Impinj Inc in terms of fixed asset turnover signifies its ability to maximize the productivity of its fixed assets, which is crucial for maintaining profitability and sustainable growth in the long run. However, it is essential for the company to monitor and potentially improve this ratio to ensure continued efficiency in asset utilization.
Peer comparison
Sep 30, 2024