ResMed Inc (RMD)
Fixed asset turnover
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,021,540 | 4,926,780 | 4,807,490 | 4,546,017 | 4,444,877 | 4,364,797 | 4,235,737 | 4,222,994 | 4,015,671 | 3,763,271 | 3,624,405 | 3,578,126 | 3,539,492 | 3,443,759 | 3,348,896 | 3,196,825 | 3,091,065 | 3,091,753 | 3,027,899 | 2,957,011 |
| Property, plant and equipment | US$ in thousands | 687,942 | 671,174 | 717,279 | — | — | — | 657,401 | 665,811 | 528,778 | 522,745 | 612,695 | 630,495 | 513,250 | 623,823 | 601,719 | 592,065 | 455,106 | 459,472 | 424,819 | 535,683 |
| Fixed asset turnover | 7.30 | 7.34 | 6.70 | — | — | — | 6.44 | 6.34 | 7.59 | 7.20 | 5.92 | 5.68 | 6.90 | 5.52 | 5.57 | 5.40 | 6.79 | 6.73 | 7.13 | 5.52 |
March 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,021,540K ÷ $687,942K
= 7.30
The fixed asset turnover ratio for ResMed Inc. exhibits notable fluctuations over the period from June 2020 to March 2025. Initially, the ratio stood at 5.52 in June 2020, reflecting the efficiency with which the company's fixed assets were generating sales. During the subsequent quarter, this ratio increased markedly to 7.13 by September 2020, indicating a significant improvement in asset utilization. This elevated level was maintained into December 2020 at 6.73 and further increased to 6.79 by March 2021, suggesting sustained operational efficiency.
From June 2021 to September 2021, the ratio declined slightly to 5.40 and 5.57 respectively, before returning to a stable level of 5.52 in December 2021. This period indicates some variability but overall maintenance of asset efficiency within a relatively narrow range. Starting in March 2022, the ratio experienced an upward trajectory, reaching 6.90, which points to enhanced utilization of fixed assets in generating revenue.
Throughout 2022, the ratio continued to trend upward, peaking at 7.20 in December 2022, and further to 7.59 in March 2023. These increases suggest a period of improved operational efficiency and better asset management. Subsequently, a slight decline was observed in June 2023 to 6.34, and a minor recovery to 6.44 in September 2023. However, the data for December 2023 and onward are not available to complete the trend analysis.
Looking toward the most recent available data, the ratio as of September 2024 is 6.70, with a further increase to 7.34 in December 2024, and a slight decrease to 7.30 by March 2025. Overall, the fixed asset turnover ratio indicates periods of both improvement and stabilization in how effectively ResMed Inc. utilizes its fixed assets to generate sales, with a general trend toward higher efficiency in recent periods. The fluctuations may be attributable to strategic adjustments, capital investments, or shifts in sales volume relative to the company's fixed asset base.
Peer comparison
Mar 31, 2025