CMS Energy Corporation (CMS)

Fixed asset turnover

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	7,462,000	7,790,000	8,141,000	8,506,000	8,596,000	8,351,000	8,052,000	7,690,000	7,329,000	7,023,000	6,805,000	6,629,000	6,418,000	6,486,000	6,525,000	6,588,000	6,845,000	6,879,000	6,932,000	6,979,000
Property, plant and equipment	US$ in thousands	25,072,000	24,694,000	24,264,000	23,003,000	22,713,000	22,340,000	21,627,000	22,540,000	22,352,000	21,934,000	21,533,000	21,207,000	21,017,000	20,630,000	19,436,000	19,144,000	18,926,000	18,524,000	18,106,000	18,315,000
Fixed asset turnover		0.30	0.32	0.34	0.37	0.38	0.37	0.37	0.34	0.33	0.32	0.32	0.31	0.31	0.31	0.34	0.34	0.36	0.37	0.38	0.38

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,462,000K ÷ $25,072,000K
= 0.30

The fixed asset turnover ratio for CMS Energy Corporation has shown some fluctuations over the past eight quarters. The ratio ranged from 0.30 to 0.38 during this period. A decreasing trend is observed from Q1 2023 to Q4 2022, where the ratio declined from 0.37 to 0.34.

The ratio calculates how efficiently the company is generating revenue from its fixed assets. A higher fixed asset turnover ratio indicates that the company is utilizing its assets more effectively to generate sales.

CMS Energy Corporation's fixed asset turnover has generally been in the range of 0.30 to 0.38, suggesting varying levels of efficiency in utilizing its fixed assets to generate revenue. Further analysis and comparison with industry benchmarks would provide more insights into the company's asset management efficiency over time.