Compass Minerals International Inc (CMP)

Total 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
Total assets	US$ in thousands	1,652,100	1,805,300	1,818,000	1,732,600	1,784,700	1,764,700	1,643,500	1,577,000	1,647,200	1,693,100	1,972,500	668,300	2,261,500	2,157,800	2,085,800	2,110,800	2,443,200	2,329,800	2,320,900	2,308,600
Total asset turnover		0.66	0.63	0.64	0.68	0.66	0.69	0.73	0.72	0.83	0.73	0.60	1.85	0.54	0.65	0.70	0.69	0.59	0.61	0.61	0.72

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,095,400K ÷ $1,652,100K
= 0.66

The total asset turnover of Compass Minerals International Inc has exhibited fluctuations over the past few years, ranging from 0.54 to 1.85. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher total asset turnover generally signifies better asset utilization.

In the most recent quarter, the total asset turnover was 0.66, showing a slight improvement compared to the previous quarter's ratio of 0.63. This suggests that the company is effectively generating revenue from its assets.

Looking further back, the company experienced a significant increase in total asset turnover in the first quarter of 2021, reaching a notably high ratio of 1.85. This spike may indicate a significant increase in sales relative to the level of assets employed during that period.

Overall, the fluctuations in Compass Minerals International Inc's total asset turnover ratios reflect varying levels of effectiveness in utilizing assets to generate revenue over the analyzed periods. It is important for the company to consistently monitor and optimize its asset turnover to ensure efficient operations and financial performance.