Robert Half International Inc (RHI)

Fixed asset turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	6,416,490	6,668,700	6,933,560	7,152,300	7,246,140	7,284,310	7,161,310	6,878,200	6,461,620	5,995,740	5,473,040	5,001,040	5,110,270	5,343,560	5,706,820	6,115,820	6,078,200	6,022,480	5,936,540	5,877,170
Property, plant and equipment	US$ in thousands	108,809	108,604	106,267	107,687	109,687	106,286	103,616	96,423	93,403	93,016	98,368	103,701	109,817	117,695	120,958	126,602	128,385	126,220	127,988	125,522
Fixed asset turnover		58.97	61.40	65.25	66.42	66.06	68.53	69.11	71.33	69.18	64.46	55.64	48.23	46.53	45.40	47.18	48.31	47.34	47.71	46.38	46.82

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $6,416,490K ÷ $108,809K
= 58.97

Fixed asset turnover is a financial ratio that measures a company's efficiency in generating revenue from its fixed assets. A higher fixed asset turnover ratio indicates that the company is effectively utilizing its fixed assets to generate sales.

Based on the data provided for Robert Half Inc, we can observe a consistent trend of decreasing fixed asset turnover over the quarters, with the ratio declining from 71.33 in Q1 2022 to 58.75 in Q4 2023. This downward trend could suggest a decrease in the company's efficiency in generating sales from its fixed assets over this period.

While the fixed asset turnover ratios for each individual quarter are relatively high, indicating strong asset utilization, the consistent decline over time may warrant further investigation into the company's asset management and operational efficiency. It is important for Robert Half Inc to monitor this trend and take necessary steps to improve its fixed asset turnover in order to optimize its asset utilization and overall operational performance.