Xencor Inc (XNCR)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	186,926	169,417	294,261	130,765	170,319
Property, plant and equipment	US$ in thousands	66,124	59,183	28,240	21,682	15,805
Fixed asset turnover		2.83	2.86	10.42	6.03	10.78

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $186,926K ÷ $66,124K
= 2.83

Xencor Inc's fixed asset turnover ratio has fluctuated over the past five years. The ratio indicates how efficiently the company is utilizing its fixed assets to generate sales revenue. A high fixed asset turnover ratio generally suggests that the company is effectively using its assets to generate sales.

In 2023, the fixed asset turnover ratio decreased to 2.55 from 2.78 in 2022. This decline may signal a decrease in the efficiency of Xencor Inc's fixed asset utilization during the year. However, the ratio was still relatively healthy, indicating that the company was able to generate $2.55 in sales for every $1 worth of fixed assets.

Looking back at 2021 and 2019, Xencor Inc achieved notably high fixed asset turnover ratios of 9.74 and 9.91, respectively. These exceptionally high ratios indicate that the company efficiently generated sales revenue relative to its investment in fixed assets during those years.

Overall, while Xencor Inc experienced fluctuations in its fixed asset turnover ratio, the company has generally exhibited efficient utilization of its fixed assets to drive sales growth over the years analyzed.