Werner Enterprises Inc (WERN)

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	3,283,499	3,323,045	3,332,907	3,358,087	3,289,978	3,193,708	3,068,993	2,882,531	2,734,372	2,589,453	2,476,776	2,395,921	2,372,178	2,373,663	2,401,713	2,460,287	2,463,701	2,488,279	2,499,750	2,491,347
Property, plant and equipment	US$ in thousands	1,972,960	1,986,890	1,944,420	1,854,590	1,825,280	1,719,110	1,670,680	1,609,600	1,613,240	1,606,530	1,534,820	1,537,340	1,543,260	1,527,430	1,500,160	1,478,740	1,526,280	1,575,350	1,525,380	1,513,940
Fixed asset turnover		1.66	1.67	1.71	1.81	1.80	1.86	1.84	1.79	1.69	1.61	1.61	1.56	1.54	1.55	1.60	1.66	1.61	1.58	1.64	1.65

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,283,499K ÷ $1,972,960K
= 1.66

The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio indicates better asset utilization.

Analyzing Werner Enterprises, Inc.'s fixed asset turnover over the past eight quarters, we observe a general decreasing trend from Q1 2022 to Q1 2023. The ratio started at 1.79 in Q1 2022 and reached its peak at 1.81 in Q1 2023, showing a slight improvement; however, it then declined to 1.66 in Q4 2023.

This declining trend suggests that Werner Enterprises may be less efficient in generating revenue from its fixed assets over time. It may indicate potential issues such as underutilization of assets, inefficient asset management, or a decrease in revenue relative to the value of fixed assets.

Further analysis and comparison with industry peers or historical data would provide a better insight into the company's asset management efficiency and potential areas for improvement.