United Rentals Inc (URI)

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	14,332,000	13,900,000	13,186,000	12,403,000	11,642,000	11,122,000	10,667,000	10,183,000	9,716,000	9,219,000	8,810,000	8,462,000	8,530,000	8,707,000	9,008,000	9,359,000	9,351,000	9,201,000	8,829,000	8,430,000
Property, plant and equipment	US$ in thousands	—	16,286,000	16,020,000	15,386,000	14,935,000	1,449,000	1,443,000	1,417,000	1,396,000	11,942,000	11,024,000	1,265,000	1,292,000	9,639,000	9,695,000	10,022,000	604,000	10,751,000	10,417,000	10,018,000
Fixed asset turnover		—	0.85	0.82	0.81	0.78	7.68	7.39	7.19	6.96	0.77	0.80	6.69	6.60	0.90	0.93	0.93	15.48	0.86	0.85	0.84

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $14,332,000K ÷ $—K
= —

The fixed asset turnover ratio for United Rentals, Inc. has shown some fluctuations over the past eight quarters. The ratio measures the company's efficiency in utilizing its fixed assets to generate revenue.

The trend indicates a gradual improvement from March 2022 to December 2023, with the ratio increasing from 0.87 to 0.96. This suggests that the company has been generating more revenue relative to its investment in fixed assets.

However, it is important to note that the ratio experienced some variability in the interim periods. The peak value in December 2023 could indicate improved efficiency in asset utilization, while the lower values in previous periods suggest some inconsistency in this aspect of the business.

It would be beneficial for stakeholders to further investigate the reasons behind these fluctuations to assess the sustainability of the trend and the company's overall asset management strategy.