Regenxbio Inc (RGNX)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	85,585	89,470	446,639	291,249	59,562
Property, plant and equipment	US$ in thousands	132,103	141,685	131,547	56,467	28,973
Fixed asset turnover		0.65	0.63	3.40	5.16	2.06

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $85,585K ÷ $132,103K
= 0.65

Regenxbio Inc's fixed asset turnover has exhibited variability over the past five years. In 2023, the fixed asset turnover ratio decreased to 0.68 from 0.80 in 2022, indicating that the company generated $0.68 in revenue for every dollar invested in fixed assets. This decline may suggest a less efficient utilization of fixed assets to generate sales compared to the prior year.

The significant drop in fixed asset turnover in 2023 from the high of 3.58 in 2021 is noteworthy. A fixed asset turnover ratio of 3.58 implies that Regenxbio Inc generated $3.58 in sales for each dollar invested in fixed assets in 2021, showcasing a period of efficient asset utilization to drive revenue.

Although the fixed asset turnover ratio decreased in 2023, it remained higher than the ratios in 2020 and 2019. In 2020, the ratio was 2.74, suggesting an improvement in asset efficiency compared to the prior year. Similarly, in 2019, the ratio was 1.22, indicating a relatively lower efficiency in utilizing fixed assets to generate revenue.

Overall, fluctuations in Regenxbio Inc's fixed asset turnover ratios suggest varying levels of efficiency in utilizing fixed assets to generate sales, with the company experiencing both improvements and declines in asset productivity over the analyzed period. Further analysis of the factors influencing these changes would be beneficial to assess the company's asset management strategies and operational performance.