Compass Minerals International Inc (CMP)

Fixed asset turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	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	1,659,100
Property, plant and equipment	US$ in thousands	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	1,048,200
Fixed asset turnover		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	1.58

March 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,095,400K ÷ $793,500K
= 1.38

The fixed asset turnover ratio for Compass Minerals International Inc has shown fluctuations over the past few quarters. The ratio indicates how efficiently the company is utilizing its fixed assets to generate revenue.

From the data provided, we observe that the fixed asset turnover ratio ranged from 1.34 to 1.66 over the last few quarters. A higher ratio suggests that the company is generating more revenue per dollar of fixed assets, indicating better efficiency in asset utilization.

Overall, there seems to be some variability in the ratio, with peaks and troughs observed throughout the periods. It is essential for analysts to further investigate the reasons behind these fluctuations, such as changes in the asset base, revenue generation, or operational efficiencies, to gain a better understanding of the company's performance in utilizing its fixed assets effectively.