Stryker Corporation (SYK)

Fixed asset turnover

		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	Mar 31, 2020
Revenue (ttm)	US$ in thousands	22,595,000	21,974,000	21,389,000	20,963,000	20,498,000	19,885,000	19,455,000	18,952,000	18,449,000	17,948,000	17,629,000	17,430,000	17,108,000	16,669,000	16,246,000	14,716,000	14,351,000	14,220,000	14,070,000	14,956,000
Property, plant and equipment	US$ in thousands	3,448,000	3,429,000	3,318,000	3,260,000	3,215,000	3,106,000	3,082,000	3,037,000	2,970,000	2,798,000	2,803,000	2,793,000	2,833,000	2,746,000	2,738,000	2,710,000	2,752,000	2,529,000	2,527,000	2,607,000
Fixed asset turnover		6.55	6.41	6.45	6.43	6.38	6.40	6.31	6.24	6.21	6.41	6.29	6.24	6.04	6.07	5.93	5.43	5.21	5.62	5.57	5.74

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $22,595,000K ÷ $3,448,000K
= 6.55

Stryker Corporation's fixed asset turnover has shown a consistent upward trend over the past few years, indicating a more efficient utilization of fixed assets to generate revenue. The ratio has steadily increased from 5.74 as of March 31, 2020, to 6.55 as of December 31, 2024. This improvement suggests that Stryker is effectively leveraging its fixed assets to generate sales and indicates potential operational efficiency and effective asset management within the company. The company's ability to generate more revenue per dollar of fixed assets invested is a positive sign for investors as it implies a higher return on investment in fixed assets.