Perficient Inc (PRFT)

Fixed asset turnover

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	906,505	918,304	922,718	914,351	905,062	887,193	852,099	813,497	760,727	708,551	669,372	631,575	607,796	590,401	581,744	577,274	565,527	552,070	531,319	511,248
Property, plant and equipment	US$ in thousands	11,996	13,918	15,298	16,785	17,970	18,529	20,192	15,287	14,747	12,127	12,124	11,717	11,902	12,038	12,488	12,300	12,170	12,391	10,394	6,977
Fixed asset turnover		75.57	65.98	60.32	54.47	50.37	47.88	42.20	53.21	51.59	58.43	55.21	53.90	51.07	49.04	46.58	46.93	46.47	44.55	51.12	73.28

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $906,505K ÷ $11,996K
= 75.57

Fixed asset turnover is a financial ratio that indicates how effectively a company is utilizing its fixed assets to generate sales. In the case of Perficient Inc., the fixed asset turnover has been relatively high, with values ranging from 42.21 to 75.57 over the past eight quarters.

A high fixed asset turnover ratio typically suggests that the company is efficiently using its fixed assets to generate revenue. The increasing trend in the fixed asset turnover ratio for Perficient Inc. from Q1 2022 to Q4 2023 indicates an improvement in the company's ability to generate sales relative to its investment in fixed assets.

Overall, Perficient Inc.'s high and improving fixed asset turnover ratio suggests that the company is effectively utilizing its fixed assets to drive revenue growth and maximize operational efficiency. This effective utilization of fixed assets can be indicative of strong management and operational performance within the company.