Tidewater Inc (TDW)

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	1,345,835	1,303,408	1,262,314	1,138,045	1,009,985	894,073	786,573	735,059	647,684	566,113	466,752	393,258	371,033	357,717	351,783	364,174	397,038	423,956	457,254	480,769
Property, plant and equipment	US$ in thousands	—	—	—	—	—	1,348,000	784,873	786,168	796,655	815,990	838,612	677,580	688,040	709,324	731,659	754,707	780,318	820,876	839,912	922,979
Fixed asset turnover		—	—	—	—	—	0.66	1.00	0.93	0.81	0.69	0.56	0.58	0.54	0.50	0.48	0.48	0.51	0.52	0.54	0.52

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,345,835K ÷ $—K
= —

The fixed asset turnover ratio for Tidewater Inc has shown variability over the periods analyzed. From March 31, 2020, to June 30, 2022, the ratio ranged between 0.48 and 0.58, indicating that the company generated revenue relative to its investment in fixed assets at a modest level during these quarters.

Notable changes in the fixed asset turnover ratio occurred in the later periods: from September 30, 2022, to March 31, 2023, the ratio increased substantially, reaching as high as 1.00 by June 30, 2023, indicating more efficient utilization of fixed assets to generate sales revenue during this timeframe.

However, the trend reversed in the subsequent periods, with the ratio declining to 0.66 by September 30, 2023, suggesting a potential decrease in revenue generation compared to the investment in fixed assets. The data for the last four quarters, from December 31, 2023, to December 31, 2024, are not available (marked as '\u2014'), making it challenging to assess the company's performance in utilizing fixed assets during these periods.

Overall, it is important for Tidewater Inc to maintain a balance between the level of investment in fixed assets and the revenue generated from utilizing these assets efficiently to ensure sustainable growth and profitability in the long term.