TransMedics Group Inc (TMDX)

Fixed asset turnover

		Sep 30, 2024	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
Revenue (ttm)	US$ in thousands	401,090	358,759	296,919	241,623	191,824	151,077	119,133	93,459	71,752	51,439	39,089	30,262	28,221	29,942	25,162	25,639	24,069	24,183	26,458	23,604
Property, plant and equipment	US$ in thousands	271,739	229,030	214,421	173,941	131,004	19,965	19,161	19,223	18,472	16,177	12,044	9,841	5,063	4,954	4,734	4,754	4,690	4,404	4,713	4,792
Fixed asset turnover		1.48	1.57	1.38	1.39	1.46	7.57	6.22	4.86	3.88	3.18	3.25	3.08	5.57	6.04	5.32	5.39	5.13	5.49	5.61	4.93

September 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $401,090K ÷ $271,739K
= 1.48

The fixed asset turnover ratio for TransMedics Group Inc has shown some fluctuations over the past few quarters. From September 2024 to March 2024, the ratio decreased from 1.48 to 1.38, indicating a slight decline in the company's ability to generate revenue from its fixed assets. However, in the previous quarters, the ratio had been relatively stable around 1.4.

A significant anomaly occurred in June 2023, where the fixed asset turnover ratio spiked to 7.57, which may have been influenced by certain unusual events or accounting adjustments during that period. It is important to investigate the cause of such an outlier to understand its impact on the company's financial performance.

Overall, the trend in the fixed asset turnover ratio for TransMedics Group Inc suggests a reasonable level of efficiency in utilizing its fixed assets to generate sales revenue, with occasional fluctuations that warrant further analysis to determine the underlying factors driving these changes.