MGP Ingredients Inc (MGPI)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 829,876 | 776,907 | 622,687 | 393,353 | 361,687 |
| Total assets | US$ in thousands | 1,392,350 | 1,158,210 | 1,041,470 | 366,575 | 322,597 |
| Total asset turnover | 0.60 | 0.67 | 0.60 | 1.07 | 1.12 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $829,876K ÷ $1,392,350K
= 0.60
The total asset turnover of MGP Ingredients, Inc. has exhibited some fluctuations over the past five years, as follows:
- In 2023, the total asset turnover ratio was at 0.60, indicating that for every dollar of assets, the company generated $0.60 of revenue.
- In 2022, the total asset turnover ratio improved to 0.68, signaling a slight increase in efficiency in generating sales from its assets compared to the previous year.
- In 2021, the ratio dropped back to 0.60, suggesting a decline in the company's ability to utilize its assets to generate revenue efficiently.
- In 2020, there was a significant decrease in the total asset turnover to 1.08, indicating that the company generated more revenue per dollar of assets compared to the previous year.
- In 2019, the ratio was at 1.12, showing a continued high efficiency in generating sales from its assets.
Overall, the total asset turnover ratio of MGP Ingredients, Inc. has varied over the years but generally indicates that the company has been efficient in utilizing its assets to generate revenue, with some fluctuations in effectiveness observed in certain years. Further analysis of the company's operations and market conditions would be necessary to fully understand the reasons behind these fluctuations.