SkyWest Inc (SKYW)

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	2,890,358	2,814,694	2,837,558	2,914,438	2,963,235	3,042,161	3,003,665	2,857,719	2,652,287	2,485,562	2,186,191	1,875,348	2,067,711	2,238,559	2,531,539	2,912,994	2,971,964	3,101,452	3,170,241	3,235,332
Property, plant and equipment	US$ in thousands	5,482,970	5,498,420	5,491,140	5,561,460	5,548,480	5,600,000	5,559,980	5,528,820	5,498,600	5,285,460	5,284,330	5,313,660	5,362,050	5,207,750	5,300,000	5,393,740	5,394,680	5,296,700	5,291,050	5,274,570
Fixed asset turnover		0.53	0.51	0.52	0.52	0.53	0.54	0.54	0.52	0.48	0.47	0.41	0.35	0.39	0.43	0.48	0.54	0.55	0.59	0.60	0.61

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,890,358K ÷ $5,482,970K
= 0.53

Skywest Inc.'s fixed asset turnover ratio has remained relatively stable over the past eight quarters, ranging from 0.52 to 0.55. The fixed asset turnover ratio measures how efficiently the company is generating revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates that the company is effectively utilizing its fixed assets to generate sales.

In the most recent quarter, Q4 2023, the fixed asset turnover ratio was 0.54, indicating that the company generated $0.54 in revenue for every $1 invested in fixed assets during that period. While the ratio has fluctuated slightly, it has generally been consistent, which suggests that Skywest Inc. has been maintaining a steady level of efficiency in utilizing its fixed assets to generate revenue.

Overall, Skywest Inc.'s fixed asset turnover ratio suggests that the company is efficiently managing its fixed assets to generate revenue, although further analysis in conjunction with other financial ratios and factors would provide a more comprehensive understanding of the company's operational performance and efficiency.