United Airlines Holdings Inc (UAL)

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	51,951,000	50,709,000	49,119,000	47,117,000	43,302,000	39,125,000	33,995,000	27,348,000	23,067,000	18,683,000	13,524,000	9,753,000	14,000,000	21,476,000	30,513,000	40,437,000	42,706,000	42,309,000	41,928,000	41,485,000
Property, plant and equipment	US$ in thousands	39,815,000	38,360,000	37,128,000	35,837,000	34,448,000	32,506,000	31,853,000	31,881,000	32,074,000	32,128,000	32,331,000	31,915,000	31,466,000	31,650,000	31,735,000	31,811,000	30,170,000	29,332,000	28,918,000	28,586,000
Fixed asset turnover		1.30	1.32	1.32	1.31	1.26	1.20	1.07	0.86	0.72	0.58	0.42	0.31	0.44	0.68	0.96	1.27	1.42	1.44	1.45	1.45

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $51,951,000K ÷ $39,815,000K
= 1.30

The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover indicates that the company is effectively using its fixed assets to generate sales.

Based on the data provided for United Airlines Holdings Inc, we can observe fluctuations in the fixed asset turnover ratio over the quarters. The fixed asset turnover ratio increased from 0.91 in Q1 2022 to 1.37 in Q2 2023, indicating improved efficiency in utilizing fixed assets to generate revenue during this period.

However, there was a slight decrease in Q4 2022, followed by relatively stable ratios in Q1-Q3 2023, ranging between 1.35 and 1.36. Overall, the trend shows an improvement in the company's ability to generate revenue from its fixed assets.

It is important for United Airlines Holdings Inc to monitor and maintain a consistent or increasing trend in the fixed asset turnover ratio to ensure optimal utilization of fixed assets and sustainable revenue generation.