MGP Ingredients Inc (MGPI)
Total 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 |
| Total assets | US$ in thousands | 1,392,350 | 1,366,360 | 1,395,130 | 1,184,190 | 1,158,210 | 1,132,080 | 1,106,620 | 1,076,820 | 1,041,470 | 1,017,470 | 1,014,300 | 381,102 | 366,575 | 361,746 | 357,013 | 382,402 | 322,597 | 307,020 | 298,724 | 290,100 |
| Total asset turnover | 0.60 | 0.59 | 0.57 | 0.67 | 0.68 | 0.67 | 0.66 | 0.66 | 0.60 | 0.55 | 0.48 | 1.06 | 1.08 | 1.07 | 1.05 | 0.97 | 1.12 | 1.22 | 1.27 | 1.30 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $829,876K ÷ $1,392,350K
= 0.60
The total asset turnover ratio for MGP Ingredients, Inc. has shown some fluctuation over the past eight quarters, ranging from 0.57 to 0.68. This ratio indicates how efficiently the company is generating sales revenue from its total assets. A higher ratio typically signifies better asset utilization and operational efficiency.
In the latest quarter, Q4 2023, the total asset turnover ratio was 0.60, which indicates that the company generated $0.60 in sales for every dollar of total assets. This suggests a moderate level of asset efficiency in converting assets into revenue.
The overall trend in the total asset turnover ratio appears relatively stable, hovering around the 0.60 to 0.68 range over the quarters analyzed. However, it would be beneficial to compare this ratio with industry benchmarks and the company's historical performance to assess whether MGP Ingredients, Inc. is effectively utilizing its assets to drive revenue growth.