Teledyne Technologies Incorporated (TDY)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	5,559,800	5,379,900	4,510,100	3,094,300	3,171,900
Property, plant and equipment	US$ in thousands	777,000	769,800	827,500	489,300	487,900
Fixed asset turnover		7.16	6.99	5.45	6.32	6.50

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,559,800K ÷ $777,000K
= 7.16

Teledyne Technologies Inc's fixed asset turnover has been relatively stable over the past five years, ranging from 5.58 to 7.25. This ratio indicates the efficiency with which the company generates revenue from its investment in fixed assets. A higher fixed asset turnover ratio suggests that the company is effectively utilizing its fixed assets to generate sales.

The increasing trend in fixed asset turnover from 5.58 in 2022 to 7.25 in 2023 indicates that Teledyne has improved its ability to generate sales from its fixed assets. This could be due to better asset management, increased productivity, or improved operational efficiency.

Overall, the consistent and relatively high fixed asset turnover ratios of Teledyne Technologies Inc suggest that the company is efficiently utilizing its fixed assets to generate revenue, which is a positive sign for investors and stakeholders.