Sitime Corporation (SITM)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	143,993	283,605	218,808	116,156	84,074
Property, plant and equipment	US$ in thousands	54,685	58,772	37,902	11,708	9,288
Fixed asset turnover		2.63	4.83	5.77	9.92	9.05

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $143,993K ÷ $54,685K
= 2.63

SiTime Corp's fixed asset turnover has exhibited a decreasing trend over the past five years, with values of 9.05 in 2019, 9.92 in 2020, 5.77 in 2021, 4.83 in 2022, and 2.63 in 2023. This ratio measures the efficiency of the company in generating sales revenue from its fixed assets. The declining trend suggests that SiTime Corp may be utilizing its fixed assets less efficiently in recent years. It is important for the company to assess its fixed asset utilization strategies to improve operational efficiency and maximize revenue generation from its fixed assets. Further investigation into the reasons behind this trend could provide insights into potential areas for improvement within the company's operations.