Tegna Inc (TGNA)

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	2,738,026	2,929,039	3,018,919	3,072,141	3,105,223	2,960,707	2,911,012	2,855,380	2,805,443	2,964,889	2,941,372	2,832,700	2,836,323	2,462,274	2,327,638	2,286,943	2,119,507	2,067,602	2,054,721	2,041,869
Property, plant and equipment	US$ in thousands	452,180	441,451	441,781	445,130	457,053	456,514	459,335	457,339	467,195	459,866	465,985	469,545	470,359	470,547	480,961	485,458	485,721	470,827	384,775	387,317
Fixed asset turnover		6.06	6.64	6.83	6.90	6.79	6.49	6.34	6.24	6.00	6.45	6.31	6.03	6.03	5.23	4.84	4.71	4.36	4.39	5.34	5.27

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,738,026K ÷ $452,180K
= 6.06

The fixed asset turnover ratio for TEGNA Inc has shown a consistent upward trend in recent quarters, indicating that the company is generating more revenue from its fixed assets. The ratio increased from 6.44 in Q4 2022 to 7.29 in Q1 2023, peaking at 7.29 before slightly decreasing in subsequent quarters.

Overall, the average fixed asset turnover ratio for TEGNA Inc over the observed period is relatively high, reflecting the company's efficiency in utilizing its fixed assets to generate revenue. This suggests that TEGNA Inc is effectively managing and optimizing its fixed asset base to drive sales and profitability.