WEC Energy Group Inc (WEC)

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	8,893,000	9,233,900	9,279,500	9,577,400	9,597,400	9,240,900	8,984,400	8,532,700	8,316,000	8,047,500	7,952,000	7,824,500	7,241,700	7,255,800	7,212,800	7,254,300	7,523,100	7,652,400	7,688,100	7,770,400
Property, plant and equipment	US$ in thousands	31,581,500	31,467,500	31,010,400	30,379,400	29,113,800	28,575,300	27,626,200	27,110,200	26,982,400	26,622,700	26,266,400	25,994,400	25,707,400	24,551,700	24,171,800	23,797,100	23,620,100	23,035,100	22,535,800	22,193,300
Fixed asset turnover		0.28	0.29	0.30	0.32	0.33	0.32	0.33	0.31	0.31	0.30	0.30	0.30	0.28	0.30	0.30	0.30	0.32	0.33	0.34	0.35

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $8,893,000K ÷ $31,581,500K
= 0.28

The fixed asset turnover ratio for WEC Energy Group Inc has shown a slight decline over the past few quarters, dropping from 0.33 in Q4 2022 to 0.28 in Q4 2023. This indicates that the company is generating $0.28 in revenue for every dollar invested in fixed assets during the most recent quarter.

While the ratio has fluctuated slightly between 0.28 and 0.33 over the past year, it is important to consider the industry benchmarks and compare it with the company's historical performance to gain a better understanding of the efficiency of WEC Energy Group Inc in utilizing its fixed assets to generate revenue.

A decreasing trend in fixed asset turnover may suggest inefficiencies in the utilization of fixed assets or potential issues with asset management. Further analysis and monitoring of this ratio in conjunction with other financial metrics can provide insight into the company's operational effectiveness and long-term sustainability.