ResMed Inc (RMD)
Fixed asset turnover
| Jun 30, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,146,330 | 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 |
| Property, plant and equipment | US$ in thousands | 718,287 | 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 |
| Fixed asset turnover | 7.16 | 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 |
June 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,146,330K ÷ $718,287K
= 7.16
The fixed asset turnover ratios for ResMed Inc. over the specified periods reveal several notable trends. During the fiscal year ending September 30, 2020, the ratio was 7.13, indicating the company's efficient utilization of its fixed assets to generate sales. This ratio experienced a slight decline by the end of December 2020 to 6.73 and remained relatively stable through March 31, 2021 at 6.79, suggesting a steady utilization of fixed assets in that period.
A significant drop is observed in the June 30, 2021 figure, which decreased to 5.40, and remained in the 5.5 to 5.6 range during the subsequent quarters ending September 30, 2021 and December 31, 2021. The low point in this period indicates a period of reduced efficiency in generating sales from fixed assets.
Starting March 31, 2022, the ratio increased markedly to 6.90, signaling an improvement in asset utilization efficiency, which continued into subsequent periods thereafter. The ratios for the periods ending June 30, 2022 and September 30, 2022 stand at 5.68 and 5.92 respectively, reflecting some fluctuation but generally maintaining a level around the mid-5s. The upward trend resumed sharply by December 31, 2022, reaching 7.20, and further increased to 7.59 by March 31, 2023. These figures indicate a period of enhanced efficiency in employing fixed assets to generate sales.
Subsequently, the ratios declined somewhat for the quarters ending June 30, 2023 and September 30, 2023, at 6.34 and 6.44 respectively, suggesting slight decreases in asset utilization efficiency. From late 2023 into 2024, the ratios showed a recovery, with the December 31, 2024 ratio at 7.34, and maintaining similarly high levels through March 31, 2025 at 7.30 and June 30, 2025 at 7.16. Notably, the ratio on September 30, 2024 registers at 6.70, indicating a stabilization at a relatively high level of asset efficiency.
Overall, the fixed asset turnover ratio has exhibited periods of fluctuation but demonstrates an overarching tendency to recover from lows observed in mid-2021. The general trend from late 2021 through mid-2025 indicates an improvement in asset utilization efficiency, with ratios consistently above the earlier lows. This pattern suggests that ResMed Inc. has enhanced its ability to generate sales from its fixed assets over time, particularly after the dip in 2021, which may correspond to strategic adjustments, investments, or operational efficiencies.
Peer comparison
Jun 30, 2025