Fair Isaac Corp. (NYSE:FICO) 

The analysis of the quarterly financial data reveals several notable trends in asset and equity turnover ratios over the reported periods.

Net Fixed Asset Turnover

Starting from December 2018, no data is available for several quarters until June 2019. From June 2019 onward, the net fixed asset turnover exhibits a significant and generally consistent upward trend, rising from 21.88 to a peak of 149.02 by June 2024. This suggests an increasing efficiency in utilizing net fixed assets to generate revenue. However, from June 2024 to March 2025, there is a notable decline down to 36.41, indicating a sudden reduction in asset efficiency towards the end of the data period.

Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)

This metric also shows a progressive increase from 21.88 in June 2019 to a peak of 52.89 by June 2024. Unlike the net fixed asset turnover excluding leases, the values here are generally lower, reflecting the inclusion of lease assets. After June 2024, a decline is observed down to 23.56 by March 2025, indicating a decrease in efficiency related to these combined assets during the latest quarters.

Total Asset Turnover

The total asset turnover ratio remains relatively stable throughout the entire period with minor fluctuations. Initial values start at 0.81 in June 2019, with slight upward movement to around 1.04 in June 2024, followed by a small dip back to 1 by March 2025. This stability suggests consistent overall asset utilization with limited volatility.

Equity Turnover

Data for equity turnover is limited, showing figures only from June 2019 to September 2020. During this interval, the ratio increases from 4.00 to 5.96, peaks dramatically at 10.86 in March 2020, and then falls to 3.91 by December 2019 (note potential data ordering anomalies). Due to incomplete and inconsistent data points, no firm conclusions can be drawn about long-term trends in equity turnover.

Overall, the increasing trend in net fixed asset turnover ratios up to mid-2024 indicates improved efficiency in fixed asset usage, possibly reflecting operational optimization or revenue growth relative to fixed asset base. The subsequent steep decline in both turnover measures from mid-2024 through early 2025 warrants further investigation into asset utilization, asset base changes, or revenue impacts. The steady total asset turnover suggests stable overall asset management. The limited equity turnover data constrains analysis of equity efficiency trends.

The quarterly financial data reveals several notable trends over the examined periods.

Revenues

Revenues show an overall increasing trend across the periods, with some fluctuations. Starting from approximately 262 million US dollars at the end of 2018, there is strong growth with periodic fluctuations reaching close to 499 million US dollars by the first quarter of 2025. This represents a near doubling of revenues over the span of six years, indicating robust top-line growth.

Property and Equipment, Net

The net value of property and equipment exhibited a consistent decline from roughly 47 million US dollars at the end of 2018 to a low near 10 million by the first quarter of 2024. Following this decline, there is a notable reversal of this trend starting around mid-2024, with net property and equipment value increasing significantly up to approximately 50.5 million by the first quarter of 2025. This pattern suggests substantial asset disposals or depreciation in the initial years, followed by new investments or acquisitions in the later periods.

Net Fixed Asset Turnover

The ratio of net fixed asset turnover has increased sharply from about 21 in mid-2019 to a peak exceeding 149 by mid-2024. Following this peak, there is a decline to approximately 36 by the end of 2024 and early 2025. The steady rise over multiple quarters suggests improving efficiency in utilizing fixed assets to generate revenues, potentially due to shrinking asset base while revenues were growing. The subsequent decrease likely corresponds with the rise in property and equipment value, indicating reinvestment that temporarily lowered turnover ratios due to increased asset base.

In summary, revenues demonstrate strong growth, supported by initially decreasing fixed assets and increasing asset efficiency. Recent trends point to renewed capital expenditures or asset accumulation, which currently affects asset turnover ratios but may position the entity for continued revenue growth or operational capacity increases going forward.

The financial data presents a series of quarterly figures for revenues, net fixed assets, and net fixed asset turnover ratios over a period extending from December 2018 through March 2025. The analysis below summarizes the observable trends and changes throughout this timeframe.

Revenues

Revenues demonstrate a general upward trend over the analyzed period. Starting at approximately $262 million in December 2018, revenues increase with some fluctuations, reaching nearly $499 million by the quarter ending March 2025. Notable growth periods include the intervals from December 2018 to September 2020, and again from March 2022 onward, where revenues consistently rise with only minor quarterly decreases. The data shows some volatility, such as a dip in revenues around September 2020 and again in late 2023, but the overall trajectory indicates expansion in revenue generation capacity over the years.

Property and Equipment, Net

The net book value of property and equipment (including operating lease right-of-use assets) exhibits a substantial decline over the course of the period. An initial value of approximately $47 million in December 2018 peaks sharply to about $146 million between December 2019 and early 2020, followed by consistent decreases in subsequent quarters down to a low near $29 million by March 2024. After this low point, there is a moderate uptick in asset values toward the end of 2024 and into the first quarter of 2025, rising to about $78 million. This pattern implies significant asset disposals or revaluations after peaking, with possible reinvestment or capital expenditures occurring later.

Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)

This ratio, which measures revenue generated per unit of net fixed assets, starts from values not reported in the earlier periods but becomes available from mid-2019. Initially, it shows an extreme value of 21.88, dropping sharply to values in the range of 8.27 to 8.48 over the following quarters. From early 2020 onwards, the ratio steadily increases, rising gradually each quarter from about 12.44 and moving up to a peak of 52.89 around mid-2024. After this peak, the ratio declines steadily to approximately 23.56 by the first quarter of 2025. The inverse trends between net fixed asset values and turnover suggest that while asset bases fell for a significant time, revenues maintained or grew, causing turnover efficiency to rise; towards the end of the period, asset base increases may have contributed to the turnover ratio decline.

The revenue figures exhibit a general upward trend throughout the periods analyzed. Starting from approximately 262 million USD at the end of 2018, revenues fluctuate with notable increases during the quarters ending September 2020 and March 2024, reaching nearly 499 million USD at the latter date. Although some quarters show slight declines or stabilization, the overall progression indicates growth over the observed timeframe.

Total assets remain relatively stable with moderate growth across the periods. Beginning at around 1.31 billion USD at the end of 2018, assets increase steadily, peaking above 1.83 billion USD by the first quarter of 2025. Minor fluctuations are present, but the overarching trend suggests measured expansion in total asset value, which supports the observed revenue growth.

The total asset turnover ratio, which measures how efficiently assets generate revenue, improves consistently across the data span. While no data is available for the initial periods, starting from mid-2019, the ratio ranges roughly between 0.77 and 1.04. The ratio surpasses unity in mid-2024, indicating increasingly effective utilization of assets in revenue generation. This improvement is aligned with both the revenue increase and controlled asset growth.

Overall, the data suggests a positive operational trend with revenues outpacing asset growth, leading to enhanced asset turnover ratios. The company appears to be achieving better efficiency in utilizing its assets to generate sales, supporting sustainable growth during the analyzed period.

Revenues

Increase from 262 million USD in Dec 2018 to nearly 499 million USD in Mar 2025, with intermittent fluctuations and strong spikes particularly in late 2020 and early 2024.

Total assets

Growth from approximately 1.31 billion USD to 1.83 billion USD over the analyzed timeframe, showing stable asset base expansion aligned with revenue increases.

Total asset turnover ratio

Improvement from around 0.77 in mid-2019 to above 1.0 by mid-2024, indicating enhanced asset utilization efficiency.

The quarterly financial data reveals several notable trends and fluctuations over the examined periods.

Revenues

Revenues generally exhibit an upward trend with some volatility observed within intervals. From December 2018 to September 2020, revenues increased steadily from approximately $262 million to a peak of around $374 million. A decline followed toward the end of 2020 but was subsequently reversed with a recovery and new peaks reached in the first quarter of 2024, hitting approximately $499 million. This indicates growing business activity and possibly expanding sales or service acceptance over the long term, despite some periods of contraction. The repeated seasonal pattern around year-end quarters is less pronounced, but quarter-to-quarter changes do show intervals of moderate growth and occasional declines.

Stockholders’ Equity (Deficit)

Stockholders’ equity displayed considerable volatility and a downward trajectory overall. In the early period ending September 2019, equity grew steadily from about $228 million to nearly $332 million. However, after this peak, a sharp decline began, moving into negative territory by late 2020. Equity deficits deepened through 2021 and 2022, reaching lows exceeding -$1 billion in multiple quarters. This declining equity suggests accumulating losses, increased liabilities, or other factors negatively impacting net assets. The equity deficit remains substantially negative as of the latest data (first quarter of 2025), indicating ongoing financial challenges or heavy investment activity funded by debt or other liabilities.

Equity Turnover

Equity turnover ratios are sporadically reported and focus on the intervals around 2019 and 2020, with values ranging from approximately 3.91 to 10.86. This ratio generally reflects the efficiency of generating revenues from equity. The high values observed in mid-2020 suggest a more efficient use of equity during that timeframe, possibly due to the combination of high revenues and diminished equity base. Lack of consistent data limits precise trend analysis; however, the available figures imply a period where revenue generation outpaced the equity base significantly.

In summary, the company demonstrates consistent revenue growth with short-term fluctuations, juxtaposed against a significant and persistent decline in stockholders' equity culminating in a substantial deficit. The equity turnover metrics, albeit incomplete, indicate periods of high efficiency in leveraging equity for revenue generation. The negative equity situation merits attention as it may reflect financial stress despite rising revenues.