Qorvo Inc (QRVO)

Fixed asset turnover

		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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	3,769,502	3,461,217	3,130,638	3,185,208	3,569,404	4,102,861	4,473,540	4,570,730	4,645,720	4,552,290	4,533,160	4,338,200	4,015,301	3,730,343	3,504,586	3,250,994	3,239,141	3,132,251	3,095,508	3,173,253
Property, plant and equipment	US$ in thousands	870,982	1,039,440	1,061,160	1,087,680	1,149,810	1,191,990	1,222,920	1,234,330	1,253,590	1,266,800	1,276,810	1,270,730	1,266,030	1,232,370	1,224,850	1,235,680	1,259,200	1,278,990	1,296,100	1,309,470
Fixed asset turnover		4.33	3.33	2.95	2.93	3.10	3.44	3.66	3.70	3.71	3.59	3.55	3.41	3.17	3.03	2.86	2.63	2.57	2.45	2.39	2.42

March 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,769,502K ÷ $870,982K
= 4.33

The fixed asset turnover ratio for Qorvo Inc has shown fluctuations over the past few quarters. The ratio measures how efficiently the company generates revenue from its fixed assets.

The trend indicates that Qorvo's ability to generate sales from its fixed assets has generally improved from 2019 to 2024. A higher fixed asset turnover ratio implies that the company is effectively utilizing its fixed assets to generate revenue.

In the most recent quarter, as of March 31, 2024, the fixed asset turnover ratio was 4.33, which indicates that Qorvo generated $4.33 in sales for every dollar invested in fixed assets. This represents an improvement from the previous quarter.

Overall, the upward trend in the fixed asset turnover ratio suggests that Qorvo has been able to make better use of its fixed assets over time. However, it is important to assess this ratio in conjunction with other financial metrics to gain a comprehensive understanding of the company's operational efficiency and financial performance.