Tegna Inc (TGNA)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,738,030	3,105,220	2,805,440	2,727,490	2,119,510
Property, plant and equipment	US$ in thousands	452,180	457,053	467,195	470,359	485,721
Fixed asset turnover		6.06	6.79	6.00	5.80	4.36

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,738,030K ÷ $452,180K
= 6.06

The fixed asset turnover for TEGNA Inc has shown a fluctuating trend over the past five years. It decreased from 4.73 in 2019 to 6.25 in 2020, indicating a more efficient utilization of fixed assets during that period. Subsequently, there was a significant improvement in 2021, with a fixed asset turnover of 6.40, suggesting an even better utilization of fixed assets.

However, in 2022, there was a notable increase to 7.17, signaling a decline in efficiency in utilizing fixed assets. This was followed by a decrease to 6.44 in 2023, although still higher than the 2021 level. Overall, the pattern suggests some variability in how effectively TEGNA Inc is generating revenue from its fixed assets, with room for potential improvement in optimizing asset utilization moving forward.