TTM Technologies Inc (TTMI)

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	4,433,921	4,804,671	4,902,331	4,983,727	5,009,189	4,674,869	4,560,365	4,501,830	4,431,757	4,205,847	4,153,582	4,149,004	4,127,043	4,910,233	5,113,110	5,067,708	5,105,153	5,257,103	5,294,466	5,484,576
Property, plant and equipment	US$ in thousands	807,667	808,371	709,577	714,147	724,204	745,992	748,439	663,394	665,755	669,736	650,764	651,194	650,435	654,837	660,866	666,611	678,201	1,027,870	1,037,090	1,037,700
Fixed asset turnover		5.49	5.94	6.91	6.98	6.92	6.27	6.09	6.79	6.66	6.28	6.38	6.37	6.35	7.50	7.74	7.60	7.53	5.11	5.11	5.29

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,433,921K ÷ $807,667K
= 5.49

TTM Technologies Inc's fixed asset turnover ratio measures the company's ability to generate revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates that the company is more efficient in utilizing its fixed assets to generate sales.

Looking at the historical data provided, we can see that TTM's fixed asset turnover has fluctuated over the past five years. The ratio has generally been above 5, indicating that the company has been effectively utilizing its fixed assets to generate revenue.

In the most recent quarter, the fixed asset turnover ratio was 5.49, which is lower compared to the previous quarter but still within a reasonable range. The trend in the ratio over the past few quarters shows some variability, but overall, it has been relatively stable at a healthy level.

It is worth noting that a high fixed asset turnover ratio may suggest that the company is operating efficiently but could also indicate that the company may be underinvesting in fixed assets, which could impact its capacity for future growth and competitiveness.

Overall, TTM Technologies Inc's fixed asset turnover ratio suggests that the company is efficiently utilizing its fixed assets to generate revenue, but management should continue to monitor and assess its investment in fixed assets to ensure sustainable growth and long-term value creation.