Cal-Maine Foods Inc (CALM)
Fixed asset turnover
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | Jun 1, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Feb 28, 2023 | Feb 25, 2023 | Nov 30, 2022 | Nov 26, 2022 | Aug 31, 2022 | Aug 27, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,261,882 | 3,799,011 | 3,022,120 | 2,778,385 | 2,695,590 | 2,584,704 | 2,467,149 | 2,222,959 | 1,979,227 | 2,138,004 | 2,303,450 | 2,834,197 | 3,378,493 | 3,491,513 | 3,606,434 | 3,267,285 | 2,922,859 | 2,714,123 | 2,503,481 | 2,322,622 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | 857,234 | — | 826,573 | — | 815,468 | — | 752,580 | 752,580 | 744,540 | 744,540 | 712,512 | 712,512 | 703,882 | 703,882 | 688,656 | 688,656 |
| Fixed asset turnover | — | — | — | — | 3.14 | — | 2.98 | — | 2.43 | — | 3.06 | 3.77 | 4.54 | 4.69 | 5.06 | 4.59 | 4.15 | 3.86 | 3.64 | 3.37 |
May 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,261,882K ÷ $—K
= —
The fixed asset turnover ratio for Cal-Maine Foods Inc. demonstrates varying levels of efficiency in utilizing its fixed assets to generate sales over the observed period. Starting from August 27, 2022, with a ratio of 3.37, there is a noticeable upward trend reaching a peak of 5.06 on February 28, 2023. This increase suggests that the company became progressively more effective at generating revenue relative to its fixed assets during this interval. The ratio then shows a slight decline through the subsequent periods, with values of 4.69 in May 2023 and 4.54 in June 2023, indicating a modest decrease in asset utilization efficiency.
Following this decline, the ratio continues to decrease as of the latest available data points, dropping to 3.77 on August 31, 2023, and further down to 3.06 on September 2, 2023. The ratios for late 2023 and early 2024 are not available, but it is noteworthy that by December 2, 2023, the ratio had fallen to 2.43, reflecting a significant reduction in the efficiency of fixed asset utilization during this period. The ratio then shows signs of recovery, with values of 2.98 on March 2, 2024 and 3.14 on June 1, 2024.
Overall, the data indicates that Cal-Maine Foods experienced periods of increased efficiency between late 2022 and early 2023, but this was followed by a notable decline throughout late 2023 into early 2024. The fluctuations suggest variability in operational efficiency concerning the use of fixed assets, potentially influenced by factors such as changes in production capacity, asset management strategies, or market conditions impacting sales. The absence of data in certain periods limits a continuous trend analysis, yet the observed pattern reflects a mix of improvement phases and periods of reduced asset utilization effectiveness.