Tetra Tech Inc (TTEK)
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 | 4,831,610 | 4,507,686 | 4,149,638 | 3,845,789 | 3,540,303 | 3,504,047 | 3,493,497 | 3,402,183 | 3,301,410 | 3,205,014 | 3,067,366 | 2,979,729 | 2,958,931 | 2,992,562 | 3,079,700 | 3,194,213 | 3,185,661 | 3,107,347 | 3,005,188 | 2,944,190 |
| Property, plant and equipment | US$ in thousands | 74,971 | 74,832 | 81,321 | 76,586 | 34,890 | 32,316 | 35,010 | 36,715 | 35,428 | 37,733 | 36,001 | 37,423 | 35,141 | 35,507 | 35,398 | 35,486 | 40,438 | 39,441 | 40,072 | 41,660 |
| Fixed asset turnover | 64.45 | 60.24 | 51.03 | 50.22 | 101.47 | 108.43 | 99.79 | 92.66 | 93.19 | 84.94 | 85.20 | 79.62 | 84.20 | 84.28 | 87.00 | 90.01 | 78.78 | 78.78 | 74.99 | 70.67 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,831,610K ÷ $74,971K
= 64.45
The fixed asset turnover ratio for Tetra Tech, Inc. has shown fluctuations over the past eight quarters. The ratio peaked at 108.43 in Q4 2022 and saw a significant drop in the following quarters. In Q1 and Q2 2023, there was a slight decline in fixed asset turnover compared to the previous quarter. However, by Q3 2023, the ratio increased to 51.21 before rising further to 60.44 in Q4 2023, indicating a potential improvement in asset utilization efficiency.
The latest ratio for Q1 2024 stands at 64.77, showing a further increase in the turnover of fixed assets. This suggests that Tetra Tech, Inc. is generating more revenue relative to its fixed assets, which could be attributed to better operational efficiency or increased sales.
Overall, the trend in fixed asset turnover indicates variability in how efficiently Tetra Tech, Inc. is using its fixed assets to generate revenue. Further analysis and comparison with industry benchmarks may provide more insights into the company's operational performance and asset management strategies.
Peer comparison
Dec 31, 2023