Tidewater Inc (TDW)

Fixed asset turnover

		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	Dec 31, 2019
Revenue (ttm)	US$ in thousands	1,276,199	1,228,246	1,101,938	971,068	881,665	771,718	719,441	628,700	536,653	440,428	369,602	342,682	328,155	322,185	334,670	376,625	428,080	462,011	485,942	486,549
Property, plant and equipment	US$ in thousands	1,220,060	1,253,580	1,286,620	1,315,120	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	780,318
Fixed asset turnover		1.05	0.98	0.86	0.74	0.65	0.98	0.92	0.79	0.66	0.53	0.55	0.50	0.46	0.44	0.44	0.48	0.52	0.55	0.53	0.62

September 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,276,199K ÷ $1,220,060K
= 1.05

The fixed asset turnover ratio for Tidewater Inc has fluctuated over the past few years. It has shown a general increasing trend from 0.44 in December 2020 to 1.05 in September 2024, indicating that the company has become more efficient in generating sales from its fixed assets.

A fixed asset turnover ratio of 1.05 means that the company generated $1.05 in sales for every $1 invested in fixed assets during the most recent quarter. This indicates effective utilization of fixed assets to generate revenue.

However, there have been periods of decline in the fixed asset turnover ratio, such as in December 2021 and December 2022, when the ratio decreased to 0.46 and 0.48, respectively. This could suggest reduced efficiency in utilizing fixed assets to generate sales during those quarters.

Overall, Tidewater Inc's fixed asset turnover ratio has shown improvement over the historical period, with some fluctuations along the way. It is important for the company to continue monitoring and optimizing its use of fixed assets to ensure efficiency and profitability in the long term.