MGP Ingredients Inc (MGPI)
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 | 829,876 | 812,630 | 802,152 | 788,133 | 782,358 | 758,210 | 733,675 | 713,632 | 626,720 | 560,788 | 486,732 | 404,055 | 394,172 | 385,352 | 373,217 | 371,159 | 361,563 | 374,318 | 378,595 | 376,354 |
| Property, plant and equipment | US$ in thousands | 262,303 | 243,249 | 250,649 | 240,969 | 235,632 | 220,691 | 211,985 | 207,366 | 207,286 | 197,248 | 189,632 | 138,619 | 131,992 | 129,643 | 128,603 | 128,671 | 128,419 | 122,154 | 119,894 | 119,942 |
| Fixed asset turnover | 3.16 | 3.34 | 3.20 | 3.27 | 3.32 | 3.44 | 3.46 | 3.44 | 3.02 | 2.84 | 2.57 | 2.91 | 2.99 | 2.97 | 2.90 | 2.88 | 2.82 | 3.06 | 3.16 | 3.14 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $829,876K ÷ $262,303K
= 3.16
MGP Ingredients, Inc.'s fixed asset turnover ratio has shown consistency and stability over the past eight quarters. The ratio has ranged from 3.19 to 3.46, indicating that, on average, the company generates $3.19 to $3.46 in revenue for every dollar invested in fixed assets.
The consistently high fixed asset turnover ratio suggests that MGP Ingredients is efficiently utilizing its fixed assets to generate sales. This efficiency is indicative of effective asset management and operational performance.
The slight fluctuations in the ratio from quarter to quarter are normal and may be influenced by seasonality, production cycles, or specific business activities. Overall, the trend over the past two years shows a strong and steady performance in terms of generating revenue from fixed assets.