Compass Minerals International Inc (CMP)

Fixed asset turnover

		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	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	1,092,700	1,095,400	1,143,100	1,155,100	1,182,300	1,183,600	1,218,100	1,200,100	1,140,300	1,364,300	1,241,900	1,185,100	1,235,700	1,213,500	1,404,600	1,467,000	1,461,500	1,439,800	1,426,000	1,409,000
Property, plant and equipment	US$ in thousands	787,900	793,500	803,000	845,300	817,100	782,600	774,800	773,300	802,500	821,100	814,300	833,800	845,000	848,400	938,000	948,000	953,800	1,030,800	1,023,500	1,051,500
Fixed asset turnover		1.39	1.38	1.42	1.37	1.45	1.51	1.57	1.55	1.42	1.66	1.53	1.42	1.46	1.43	1.50	1.55	1.53	1.40	1.39	1.34

June 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,092,700K ÷ $787,900K
= 1.39

The fixed asset turnover ratio of Compass Minerals International Inc has shown fluctuations over the past few quarters, ranging from 1.34 to 1.66. The ratio indicates how efficiently the company is generating sales revenue from its investment in fixed assets.

A higher fixed asset turnover generally suggests that the company is effectively utilizing its fixed assets to generate sales. On the other hand, a lower ratio may indicate underutilization of fixed assets or potentially overinvestment in fixed assets relative to sales.

Compass Minerals' fixed asset turnover has been generally stable around the 1.4 to 1.6 range, indicating that the company has been able to efficiently generate sales from its fixed assets. However, there was a peak at 1.66 in March 2022, indicating a particularly efficient use of fixed assets during that period.

It is important for investors and analysts to monitor the trend of the fixed asset turnover ratio over time to assess the company's operational efficiency and asset utilization. fluctuations in this ratio may provide insights into changes in the company's business operations or capital expenditure decisions.