Proto Labs Inc (PRLB)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 499,414 | 489,514 | 487,522 | 434,393 | 458,728 |
| Property, plant and equipment | US$ in thousands | 253,655 | 257,785 | 280,346 | 282,666 | 263,712 |
| Fixed asset turnover | 1.97 | 1.90 | 1.74 | 1.54 | 1.74 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $499,414K ÷ $253,655K
= 1.97
Proto Labs Inc's fixed asset turnover has shown a positive trend over the years, increasing from 1.54 in 2020 to 1.99 in 2023. This indicates that the company generated $1.99 in revenue for every $1 of fixed assets in 2023. The improvement in fixed asset turnover suggests that Proto Labs is becoming more efficient in utilizing its fixed assets to generate sales. This trend highlights the company's ability to effectively manage and utilize its fixed assets to drive revenue growth. Overall, an increasing fixed asset turnover ratio is a positive indicator of operational efficiency and effective asset utilization by Proto Labs Inc.
Peer comparison
Dec 31, 2023