Qualcomm Incorporated (QCOM)

Fixed asset turnover

		Sep 30, 2024	Jun 23, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	38,961,000	37,348,000	36,406,000	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
Property, plant and equipment	US$ in thousands	4,665,000	4,744,000	4,724,000	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
Fixed asset turnover		8.35	7.87	7.71	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

September 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $38,961,000K ÷ $4,665,000K
= 8.35

Qualcomm Incorporated's fixed asset turnover has shown a generally upward trend over the past two years, with fluctuations occurring on a quarterly basis. The ratio has fluctuated between 5.74 and 8.55, indicating the company generated between $5.74 and $8.55 in revenue for every dollar invested in fixed assets during the respective periods.

Overall, the increasing trend in fixed asset turnover suggests Qualcomm is becoming more efficient in utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio indicates that the company is generating more revenue relative to its investment in fixed assets, which is a positive sign of operational efficiency.

However, it is important to note that fluctuations in the ratio may be influenced by various factors, such as changes in sales volume, asset utilization, or even changes in the value of fixed assets. Further analysis and comparison with industry benchmarks may provide additional insights into Qualcomm's operational performance and efficiency in asset utilization.