The Clorox Company (CLX)
Fixed asset turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,104,000 | 7,019,000 | 7,165,000 | 7,469,000 | 7,093,000 | 7,209,000 | 7,310,000 | 7,035,000 | 7,389,000 | 7,171,000 | 7,065,000 | 7,041,000 | 7,107,000 | 7,108,000 | 7,080,000 | 7,231,000 | 7,341,000 | 7,522,000 | 7,524,000 | 7,131,000 |
| Property, plant and equipment | US$ in thousands | — | 1,594,000 | 1,604,000 | 1,583,000 | — | — | — | 1,645,000 | 1,691,000 | 1,315,000 | 1,322,000 | 1,658,000 | 1,676,000 | 1,312,000 | 1,298,000 | 1,611,000 | 1,634,000 | 1,579,000 | 1,221,000 | 1,176,000 |
| Fixed asset turnover | — | 4.40 | 4.47 | 4.72 | — | — | — | 4.28 | 4.37 | 5.45 | 5.34 | 4.25 | 4.24 | 5.42 | 5.45 | 4.49 | 4.49 | 4.76 | 6.16 | 6.06 |
June 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,104,000K ÷ $—K
= —
The analysis of The Clorox Company's fixed asset turnover ratio over the periods provided reveals notable trends and fluctuations indicative of the company's asset utilization efficiency.
In the fiscal year ending September 30, 2020, the ratio commenced at 6.06, reflecting a relatively high level of efficiency in generating sales from its fixed assets. This ratio slightly increased to 6.16 by the end of 2020, suggesting stable or marginally improved asset utilization.
However, a significant decline is observed starting in the first quarter of 2021, with the ratio dropping to 4.76, and further decreasing to 4.49 by June 30, 2021. This downward trend continued into the subsequent periods, with the ratio remaining at 4.49 through September 2021. The decline indicates a reduction in sales efficiency relative to the fixed asset base during this period.
In the subsequent quarter, ending December 31, 2021, the ratio rebounded to 5.45, suggesting improvements in asset utilization or sales performance. The ratio remained relatively stable at 5.42 in March 2022 but again declined to 4.24 by June 2022. This downward movement persisted, with the ratio slightly recovering to 4.25 in September 2022 but then rising again to 5.34 at the end of 2022.
The first quarter of 2023 shows a slight increase to 5.45, maintaining a relatively stable level through that period. However, a decline is again evident in the following quarter, dropping to 4.37 in June 2023 and slightly decreasing further to 4.28 in September 2023.
Moving into future projections, the ratio is recorded at 4.72 for September 2024, falling to 4.47 in December 2024, and slightly decreasing again to 4.40 by March 2025.
Overall, the fixed asset turnover ratio exhibits a pattern of fluctuation, with periods of decline interspersed with short-lived recoveries. The initial high ratios suggest effective utilization of fixed assets early in the observed period, but subsequent periods reflect challenges or changes in operational efficiency. The periodic declines could be attributable to factors such as asset base expansion without proportional sales growth, changes in product mix, restructuring, or shifts in market demand.
In conclusion, The Clorox Company’s fixed asset turnover ratio has demonstrated variability over the analyzed intervals, generally trending downward from the initial high levels, indicating increased asset holdings without commensurate sales increases, or efficiency challenges in asset utilization during these periods.