Qorvo Inc (QRVO)

Fixed asset turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	3,769,510	3,569,400	4,645,710	4,015,310	3,239,140
Property, plant and equipment	US$ in thousands	870,982	1,149,810	1,253,590	1,266,030	1,259,200
Fixed asset turnover		4.33	3.10	3.71	3.17	2.57

March 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,769,510K ÷ $870,982K
= 4.33

Qorvo Inc's fixed asset turnover has shown a positive trend over the past five years, indicating that the company has been able to generate more revenue from its fixed assets. The ratio has ranged from 2.57 in 2020 to 4.33 in 2024. This improvement suggests that Qorvo has become more efficient in utilizing its fixed assets to generate sales revenue. A higher fixed asset turnover ratio is generally preferable as it signifies better asset utilization and efficiency in the company's operations. It shows that Qorvo is effectively managing its fixed assets to generate revenue, reflecting positively on its operational efficiency and potentially its profitability.