RadNet Inc (RDNT)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,616,630 | 1,430,060 | 1,315,080 | 1,071,840 | 1,154,180 |
| Property, plant and equipment | US$ in thousands | 604,401 | 565,961 | 484,247 | 399,335 | 367,795 |
| Fixed asset turnover | 2.67 | 2.53 | 2.72 | 2.68 | 3.14 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,616,630K ÷ $604,401K
= 2.67
The fixed asset turnover ratio for Radnet Inc over the past five years has exhibited some fluctuations. It was 2.67 in 2023, slightly higher compared to 2022 but lower than the ratio in 2021. This indicates that the company generated $2.67 in sales for every dollar invested in fixed assets in 2023.
The company's fixed asset turnover was relatively stable in 2020 and 2021, with ratios of 2.68 and 2.72, respectively. However, there was a noticeable decrease in 2019, with a fixed asset turnover of 3.15, indicating that Radnet Inc was more efficient in generating sales from its fixed assets in that year compared to the subsequent years.
Overall, the trend in fixed asset turnover suggests that Radnet Inc has been effectively utilizing its fixed assets to generate sales, albeit with some variations in efficiency over the past five years. Additional contextual information and industry benchmarks would be needed to provide a more in-depth analysis of the company's performance in this area.
Peer comparison
Dec 31, 2023