Qualcomm Incorporated (QCOM)

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	36,292,000	35,820,000	38,584,000	41,069,000	42,958,000	44,200,000	42,141,000	39,265,000	36,036,000	33,566,000	32,576,000	29,409,000	26,690,000	23,532,000	20,000,000	24,742,000	24,508,000	24,273,000	25,237,000	21,179,000
Property, plant and equipment	US$ in thousands	4,907,000	5,042,000	5,216,000	5,281,000	5,215,000	5,168,000	5,038,000	4,893,000	4,723,000	4,559,000	4,424,000	4,186,000	4,033,000	3,711,000	3,487,000	3,358,000	3,171,000	3,081,000	3,037,000	2,945,000
Fixed asset turnover		7.40	7.10	7.40	7.78	8.24	8.55	8.36	8.02	7.63	7.36	7.36	7.03	6.62	6.34	5.74	7.37	7.73	7.88	8.31	7.19

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $36,292,000K ÷ $4,907,000K
= 7.40

Qualcomm Incorporated's fixed asset turnover ratio measures the company's ability to generate revenue from its fixed assets. The ratio has fluctuated over the past few quarters, ranging from a low of 5.74 to a high of 8.55. A higher fixed asset turnover ratio indicates that the company is generating more revenue per dollar of fixed assets, which is generally a positive sign.

The trend of Qualcomm's fixed asset turnover ratio shows some variability, with ups and downs in the short term. However, the company has generally maintained a relatively high fixed asset turnover ratio over the analyzed period, indicating efficient utilization of its fixed assets to generate revenue.

It is important to note that while a high fixed asset turnover ratio is generally favorable, it is also important to consider the industry benchmarks and compare Qualcomm's ratio to its peers for a more comprehensive analysis of its operational efficiency and asset utilization.