Veracyte Inc (VCYT)

Fixed asset turnover

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Revenue (ttm) US$ in thousands 479,129 463,393 445,764 425,331 399,579 375,473 361,051 343,149 328,633 311,175 296,536 283,575 268,353 250,594 219,514 186,714 157,465 123,064 117,483 112,677
Property, plant and equipment US$ in thousands — — — — — — — — 30,965 — 30,862 31,122 32,004 31,962 31,141 30,869 26,372 10,562 8,990 8,914
Fixed asset turnover — — — — — — — — 10.61 — 9.61 9.11 8.38 7.84 7.05 6.05 5.97 11.65 13.07 12.64

June 30, 2025 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $479,129K ÷ $—K
= —

The fixed asset turnover ratio for Veracyte Inc exhibits notable fluctuations over the observed periods, reflecting changes in the company's efficiency in utilizing its fixed assets to generate revenue.

From September 30, 2020, to December 31, 2020, the ratio increased modestly from 12.64 to 13.07, indicating a slight improvement in asset efficiency. However, in the subsequent quarter ending March 31, 2021, the ratio declined to 11.65, suggesting a reduction in the intensity of asset utilization. This downward trend accelerated sharply by June 30, 2021, when the ratio dropped to 5.97, representing a significant decrease in fixed asset turnover, potentially attributed to either a decline in revenue generation relative to fixed assets or an increase in fixed asset base without a proportional revenue increase.

Post-June 2021, the ratio stabilized somewhat, recording minor increases over the following quarters: 6.05 on September 30, 2021, 7.05 on December 31, 2021, and 7.84 on March 31, 2022. The upward trajectory continued through June 2022 (8.38), September 2022 (9.11), December 2022 (9.61), and into 2023, reaching 10.61 on June 30, 2023. These incremental improvements suggest a gradual enhancement in how effectively fixed assets are supporting revenue, or possibly a strategic reduction in fixed assets coupled with stable or growing revenues.

Further data beyond March 2023 are unavailable, with the ratio remaining at 10.61 as of June 30, 2023, and no figures reported for subsequent quarters. The observed pattern indicates a trend of recovery or improvement after a period of decline in early 2021, highlighting a phase of operational efficiency gains or asset base adjustments.

Overall, the fixed asset turnover ratio demonstrates significant volatility, with a substantial dip in mid-2021 followed by an ongoing recovery trend. The data suggest that Veracyte Inc's efficiency in utilizing fixed assets to generate revenue has experienced fluctuations but shows signs of improvement toward mid-2023.