Perdoceo Education Corp (PRDO)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	732,186	695,895	693,473	689,494	631,716
Property, plant and equipment	US$ in thousands	21,371	26,038	28,355	27,761	26,006
Fixed asset turnover		34.26	26.73	24.46	24.84	24.29

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $732,186K ÷ $21,371K
= 34.26

Perdoceo Education Corporation's fixed asset turnover has shown a consistent increasing trend over the years, with values of 24.14 in 2019, 24.76 in 2020, 24.44 in 2021, 26.70 in 2022, and 33.22 in 2023. This indicates that the company has been able to generate more revenue relative to its investment in fixed assets.

The significant increase in fixed asset turnover from 2019 to 2023 suggests that Perdoceo Education Corporation has been effectively utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio is generally favorable as it indicates that the company is efficiently using its assets to generate sales.

Overall, the rising trend in the fixed asset turnover ratio reflects positively on Perdoceo Education Corporation's operational efficiency and asset utilization, signaling effective management of its fixed assets to drive revenue growth.