Vulcan Materials Company (VMC)

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	7,782,000	7,679,600	7,582,100	7,423,500	7,315,200	7,189,600	6,617,800	6,024,500	5,552,100	5,120,920	4,914,310	4,875,890	4,856,830	4,867,860	4,976,730	4,981,830	4,929,101	4,831,001	4,652,441	4,524,911
Property, plant and equipment	US$ in thousands	6,217,700	6,112,000	6,105,800	6,044,900	6,051,300	5,985,300	5,743,200	5,725,600	5,546,800	5,546,900	4,365,200	4,363,300	4,426,000	4,343,800	4,383,010	4,401,090	4,316,040	4,287,340	4,290,680	4,275,340
Fixed asset turnover		1.25	1.26	1.24	1.23	1.21	1.20	1.15	1.05	1.00	0.92	1.13	1.12	1.10	1.12	1.14	1.13	1.14	1.13	1.08	1.06

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,782,000K ÷ $6,217,700K
= 1.25

The fixed asset turnover ratio for Vulcan Materials Co has shown a gradual increasing trend over the past eight quarters, indicating an improvement in the company's ability to generate revenue from its fixed assets. The ratio has ranged from 1.05 in Q1 2022 to 1.26 in Q3 2023, with a peak of 1.26 in Q3 2023. This suggests that the company is utilizing its fixed assets more efficiently to generate sales, which is a positive sign for investors and creditors. Overall, the increasing trend in the fixed asset turnover ratio reflects positively on Vulcan Materials Co's operational efficiency and asset management.