Bio-Techne Corp (TECH)
Fixed asset turnover
| 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 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,159,360 | 1,137,352 | 1,130,708 | 1,131,664 | 1,137,169 | 1,125,274 | 1,120,378 | 1,117,527 | 1,094,290 | 1,064,304 | 1,017,313 | 971,607 | 917,080 | 837,177 | 786,479 | 745,873 | 724,111 | 739,941 | 729,495 | 718,184 |
| Property, plant and equipment | US$ in thousands | 251,154 | 243,728 | 234,204 | 231,683 | 226,200 | 223,571 | 223,851 | 224,098 | 223,242 | 218,398 | 211,814 | 207,134 | 207,907 | 198,975 | 195,602 | 191,677 | 176,829 | 165,012 | 164,313 | 156,783 |
| Fixed asset turnover | 4.62 | 4.67 | 4.83 | 4.88 | 5.03 | 5.03 | 5.01 | 4.99 | 4.90 | 4.87 | 4.80 | 4.69 | 4.41 | 4.21 | 4.02 | 3.89 | 4.09 | 4.48 | 4.44 | 4.58 |
June 30, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,159,360K ÷ $251,154K
= 4.62
Bio-Techne Corp's fixed asset turnover ratio has shown fluctuations over the past few quarters but generally remains at a healthy level. The fixed asset turnover ratio measures how efficiently the company is generating revenue from its investment in fixed assets.
The trend indicates an overall stable performance in utilizing its fixed assets to generate sales. The ratio has ranged from 3.89 to 5.03 over the past few quarters. A high fixed asset turnover ratio suggests that the company is effectively managing and utilizing its fixed assets to generate sales.
It's worth noting that there was a slight decrease in the ratio from 5.03 in March 2023 to 4.21 in March 2021, indicating potential inefficiencies in utilizing fixed assets during that period. However, the ratio has shown improvement since then and has been consistently above the 4.0 level.
Overall, Bio-Techne Corp's fixed asset turnover ratio reflects good efficiency in generating revenue from its fixed assets, and the company appears to be effectively utilizing its asset base to drive sales growth.
Peer comparison
Jun 30, 2024