Compass Minerals International Inc (CMP)

Fixed asset turnover

		Sep 30, 2023	Sep 30, 2022	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Revenue	US$ in thousands	281,500	1,200,100	946,700	1,408,800	1,436,900
Property, plant and equipment	US$ in thousands	845,300	773,300	848,400	1,030,800	1,052,000
Fixed asset turnover		0.33	1.55	1.12	1.37	1.37

September 30, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $281,500K ÷ $845,300K
= 0.33

The fixed asset turnover ratio for Compass Minerals International Inc has fluctuated over the past five years. In September 2023, the ratio stood at 1.41, a decrease from 1.60 in September 2022. This suggests that the company generated $1.41 in sales for every dollar invested in fixed assets, indicating a decline in efficiency in utilizing its fixed assets to generate revenue. The trend over the years indicates some variability in the company's ability to utilize its fixed assets effectively to generate sales. Further analysis would be required to understand the factors driving these fluctuations and their potential impact on the company's operational and financial performance.