MGP Ingredients Inc (MGPI)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 703,625 | 737,717 | 787,880 | 806,076 | 836,523 | 812,630 | 802,152 | 788,133 | 782,358 | 758,210 | 733,675 | 713,632 | 626,720 | 560,788 | 487,141 | 404,762 | 395,521 | 387,069 | 374,790 | 372,731 |
| Total assets | US$ in thousands | 1,405,780 | 1,440,620 | 1,434,100 | 1,390,280 | 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 |
| Total asset turnover | 0.50 | 0.51 | 0.55 | 0.58 | 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 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $703,625K ÷ $1,405,780K
= 0.50
MGP Ingredients Inc's total asset turnover ratio has shown fluctuation over the past few years. From March 31, 2020, to December 31, 2021, the total asset turnover ratio increased steadily from 0.97 to 1.08. This indicates that the company generated $1.08 in sales for every $1 of total assets during this period.
However, starting from March 31, 2022, the total asset turnover ratio began to decline, reaching a low of 0.50 by December 31, 2024. This decline suggests that the company's efficiency in utilizing its total assets to generate sales decreased during this period.
Overall, MGP Ingredients Inc's total asset turnover ratio has shown a mixed performance, with periods of both improvement and decline. It is important for the company to analyze the underlying reasons for these fluctuations and work towards optimizing its asset utilization efficiency to drive sustainable growth in the future.