TTM Technologies Inc (TTMI)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,422,460	5,009,190	4,431,760	4,364,300	5,294,200
Property, plant and equipment	US$ in thousands	807,667	724,204	665,755	650,435	678,201
Fixed asset turnover		5.48	6.92	6.66	6.71	7.81

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $4,422,460K ÷ $807,667K
= 5.48

The fixed asset turnover ratio of TTM Technologies Inc has shown a decreasing trend over the past five years, from 7.81 in 2019 to 5.48 in 2023. This indicates that the company's ability to generate sales revenue from its investment in fixed assets has been declining.

A higher fixed asset turnover ratio is generally preferred as it suggests that the company is utilizing its fixed assets more efficiently to generate revenue. Conversely, a decreasing fixed asset turnover ratio could imply inefficiencies in asset utilization or a slowdown in sales relative to the investment in fixed assets.

Further analysis would be required to determine the specific factors contributing to this trend and whether it may have any implications for the company's operational efficiency or profitability.