The Clorox Company (CLX)
Fixed asset turnover
| 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 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 6,721,000 |
| 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 | 1,408,000 |
| 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 | 4.77 |
March 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,019,000K ÷ $1,594,000K
= 4.40
The fixed asset turnover ratio for The Clorox Company from June 30, 2020, to September 30, 2024, demonstrates fluctuations that reflect the company's utilization efficiency of its fixed assets in generating sales revenue over this period.
Initially, the ratio experienced an increase from 4.77 at June 30, 2020, to a peak of 6.16 at December 31, 2020. This upward movement indicates improved asset utilization, possibly driven by more efficient operations or strategic initiatives that enhanced sales relative to fixed asset investments.
Following this peak, the ratio declined to 4.76 by March 31, 2021, suggesting a temporary decrease in asset efficiency, potentially due to increased capital expenditure, operational adjustments, or market conditions that impacted sales relative to fixed assets. The ratio continued to trend downward through mid-2021, reaching 4.49 by June and September 2021, signaling a period where fixed assets were less effective in generating sales.
Subsequently, the ratio increased again, reaching 5.45 at December 31, 2021, and slightly decreasing to 5.42 at March 31, 2022, indicating a period of improved asset efficiency. This pattern suggests strategic asset management or operational improvements that enhanced sales generation from the existing fixed asset base.
In 2022, the ratio displayed a gradual decline from 4.24 at June 30 to 4.25 at September 30, followed by an uptick to 5.34 at December 31, 2022, and further to 5.45 at March 31, 2023. Despite some fluctuations, the ratio in this period hovered within the mid-4 to mid-5 range, reflecting stable but somewhat variable asset utilization efficiency.
The trend continued with a slight decrease to 4.37 at June 30, 2023, and further to 4.28 at September 30, 2023. Projections for December 2023 through March 2025 indicate ratios of 4.47 and 4.40, respectively, demonstrating a relatively stable range with minor fluctuations.
Historical fluctuations in this ratio suggest periods of operational adjustments, capital investments, or market conditions influencing sales relative to fixed assets. Overall, the ratio oscillates around the mid-4 to mid-5 mark, indicating sustained but variable efficiency in utilizing fixed assets to generate sales over the analyzed period.