Photronics Inc (PLAB)

Fixed asset turnover

		Jan 28, 2024	Oct 31, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 31, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Oct 31, 2020	Aug 2, 2020	May 3, 2020	Feb 2, 2020	Oct 31, 2019	Jul 28, 2019	Apr 28, 2019
Revenue (ttm)	US$ in thousands	907,395	894,050	874,282	878,280	850,609	851,526	816,396	771,044	716,233	674,649	638,551	618,137	603,369	609,691	616,661	596,878	585,684	550,660	539,064	537,343
Property, plant and equipment	US$ in thousands	742,671	709,244	701,459	699,917	710,927	643,873	640,805	659,881	692,289	696,553	699,609	717,426	672,398	631,475	623,247	604,545	619,935	632,441	636,743	654,357
Fixed asset turnover		1.22	1.26	1.25	1.25	1.20	1.32	1.27	1.17	1.03	0.97	0.91	0.86	0.90	0.97	0.99	0.99	0.94	0.87	0.85	0.82

January 28, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $907,395K ÷ $742,671K
= 1.22

Photronics, Inc.'s fixed asset turnover has displayed fluctuations over the past eight quarters. The ratio has ranged from a low of 1.13 in Q2 2022 to a high of 1.28 in Q4 2022, indicating the company's ability to generate sales revenue relative to its investment in fixed assets. The average fixed asset turnover over this period is approximately 1.23, showcasing a relatively stable performance in utilizing its fixed assets efficiently to generate sales revenue. It is important for the company to monitor and manage its fixed asset turnover to ensure optimal utilization of assets and enhance overall profitability.