US Physicalrapy Inc (USPH)
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 | 604,802 | 591,183 | 580,778 | 569,949 | 553,144 | 541,795 | 528,086 | 514,358 | 495,022 | 488,399 | 469,431 | 426,360 | 426,709 | 425,613 | 435,939 | 478,455 | 481,969 | 479,009 | 474,301 | 462,481 |
| Property, plant and equipment | US$ in thousands | 26,102 | 26,068 | 24,977 | 24,638 | 24,748 | 25,007 | 24,229 | 24,145 | 22,979 | 22,036 | 21,560 | 21,761 | 21,665 | 21,474 | 22,534 | 22,982 | 22,090 | 21,372 | 20,022 | 21,159 |
| Fixed asset turnover | 23.17 | 22.68 | 23.25 | 23.13 | 22.35 | 21.67 | 21.80 | 21.30 | 21.54 | 22.16 | 21.77 | 19.59 | 19.70 | 19.82 | 19.35 | 20.82 | 21.82 | 22.41 | 23.69 | 21.86 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $604,802K ÷ $26,102K
= 23.17
U.S. Physical Therapy, Inc.'s fixed asset turnover, as reflected in the data provided, has shown a generally increasing trend over the quarters, with values ranging from 21.30 to 23.25. This metric measures the efficiency of the company in generating revenue from its fixed assets, indicating how well the company utilizes these assets to generate sales.
The consistently high fixed asset turnover ratios suggest that U.S. Physical Therapy, Inc. is effectively utilizing its fixed assets to generate sales revenue. A high fixed asset turnover ratio implies that the company is efficient in generating revenue from its investments in property, plant, and equipment.
The gradual increase in the fixed asset turnover ratio over the quarters indicates an improvement in the company's asset utilization efficiency. This could be attributed to better management of fixed assets, increased productivity, or improved operational efficiency within the organization. It signifies that U.S. Physical Therapy, Inc. is effectively leveraging its fixed assets to drive sales growth.
Overall, the trend in U.S. Physical Therapy, Inc.'s fixed asset turnover reflects a positive picture of the company's operational efficiency and effectiveness in utilizing its fixed assets to drive revenue generation.
Peer comparison
Dec 31, 2023