Teleflex Incorporated (TFX)

Fixed asset turnover

		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	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,911,099	2,896,815	2,847,031	2,814,657	2,739,870	2,666,841	2,681,690	2,672,883	2,658,512	2,705,531	2,628,918	2,495,954	2,494,257	2,464,030	2,481,625	2,562,494	2,533,648	2,494,311	2,447,888	2,425,533
Property, plant and equipment	US$ in thousands	479,913	464,467	464,609	458,861	447,205	422,355	429,372	436,021	443,758	446,318	449,754	467,648	473,912	445,242	432,401	427,452	430,719	429,568	425,475	409,963
Fixed asset turnover		6.07	6.24	6.13	6.13	6.13	6.31	6.25	6.13	5.99	6.06	5.85	5.34	5.26	5.53	5.74	5.99	5.88	5.81	5.75	5.92

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,911,099K ÷ $479,913K
= 6.07

Teleflex Incorporated's fixed asset turnover ratio has been relatively stable over the past eight quarters, ranging between 6.20 and 6.62. This indicates the company's ability to generate revenue in relation to its investment in fixed assets. A higher fixed asset turnover ratio is generally preferred as it signifies that the company is efficiently utilizing its fixed assets to generate sales.

Despite some minor fluctuations, the overall trend suggests that Teleflex has been effectively managing its fixed assets to generate revenue. A consistent fixed asset turnover ratio indicates operational efficiency and effective utilization of resources. However, it is important to consider other factors such as industry benchmarks and business strategies to gain a more comprehensive understanding of Teleflex's performance in this area.