Matson Inc (MATX)

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	3,081,800	3,095,300	3,380,000	3,866,100	4,326,500	4,790,200	4,746,900	4,359,700	3,903,500	3,335,600	2,908,600	2,555,100	2,355,900	2,195,800	2,122,200	2,158,100	2,180,600	2,206,100	2,225,200	2,225,500
Property, plant and equipment	US$ in thousands	2,089,900	2,058,500	2,029,000	1,967,100	1,962,500	1,907,400	1,894,700	1,894,600	1,878,300	1,826,800	1,715,800	1,684,000	1,689,900	1,614,600	1,578,400	1,589,600	1,598,100	1,485,500	1,398,700	1,386,200
Fixed asset turnover		1.47	1.50	1.67	1.97	2.20	2.51	2.51	2.30	2.08	1.83	1.70	1.52	1.39	1.36	1.34	1.36	1.36	1.49	1.59	1.61

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,081,800K ÷ $2,089,900K
= 1.47

The fixed asset turnover of Matson Inc has been fluctuating over the past eight quarters. The ratio peaked at 2.52 in Q3 2022 and remained at the same level in Q2 2022 before slightly decreasing to 2.31 in Q1 2022. Subsequently, there was a decline in Q4 2022 and a more significant decrease to 1.97 in Q1 2023. The ratio then improved to 1.67 in Q2 2023, further increasing to 1.51 in Q3 2023, and reaching 1.48 in Q4 2023.

The trend indicates that the company has experienced some fluctuations in its ability to generate revenue from its fixed assets efficiently. A higher fixed asset turnover ratio generally suggests better utilization of fixed assets to generate sales. The declining trend observed from Q3 2022 to Q1 2023 may indicate potential inefficiencies or underutilization of the company's fixed assets during that period. However, the subsequent increase in the ratio from Q1 2023 to Q4 2023 suggests an improvement in the company's ability to generate revenue from its fixed assets.

Further analysis and comparison with industry peers or historical data would provide a clearer understanding of Matson Inc's performance in terms of fixed asset turnover and its implications for the company's operational efficiency and profitability.