The Mosaic Company (MOS)

Activity ratios

Short-term

Turnover ratios

	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
Inventory turnover	4.80	5.33	4.38	4.35	3.95	3.47	3.24	3.10	3.53	3.96	3.87	3.57	2.83	2.05	0.72	0.61	0.49	0.17	0.14	0.14
Receivables turnover	11.14	9.46	13.12	13.00	11.25	10.70	7.83	9.61	8.07	10.33	10.93	10.98	9.85	9.94	12.02	11.72	11.10	12.10	13.91	12.32
Payables turnover	10.38	11.81	11.17	14.08	10.84	10.94	7.84	12.17	7.67	8.65	9.17	8.71	6.39	4.67	1.73	1.70	1.50	0.50	0.47	0.48
Working capital turnover	16.23	28.76	18.38	27.03	18.70	11.48	10.58	12.52	22.97	10.11	11.97	25.12	23.17	8.95	8.79	8.90	7.92	6.92	5.82	5.58

Mosaic Company's activity ratios provide insights into how efficiently the company is managing its resources and operations.

1. Inventory turnover: Mosaic's inventory turnover has been improving steadily over the quarters, indicating that the company is selling its inventory at a faster rate. This means that Mosaic is efficiently managing its inventory levels and turning over its stock more frequently.

2. Receivables turnover: Mosaic's receivables turnover has been relatively stable, indicating that the company is collecting its accounts receivable efficiently. A higher turnover ratio suggests that Mosaic is able to collect outstanding payments from customers in a timely manner.

3. Payables turnover: Mosaic's payables turnover has fluctuated over the quarters but has generally shown an upward trend. A higher payables turnover ratio indicates that the company is paying off its suppliers more quickly, which can be beneficial in maintaining good relationships with vendors.

4. Working capital turnover: Mosaic's working capital turnover has also been increasing over the quarters, indicating that the company is generating more revenue for every dollar of working capital invested. This suggests that Mosaic is using its working capital efficiently to support its operations and generate sales.

Overall, Mosaic Company's activity ratios show improvements in inventory turnover, receivables turnover, payables turnover, and working capital turnover, indicating effective management of its resources and operations to drive revenue growth.

Average number of days

		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
Days of inventory on hand (DOH)	days	76.05	68.54	83.43	83.82	92.33	105.16	112.57	117.58	103.45	92.10	94.42	102.27	129.08	178.22	507.84	599.66	741.72	2,178.51	2,621.26	2,518.28
Days of sales outstanding (DSO)	days	32.76	38.57	27.83	28.09	32.44	34.13	46.59	37.99	45.25	35.33	33.39	33.23	37.04	36.71	30.38	31.14	32.89	30.16	26.23	29.62
Number of days of payables	days	35.17	30.89	32.67	25.93	33.68	33.37	46.55	30.00	47.57	42.19	39.79	41.90	57.08	78.09	211.01	214.81	243.05	727.44	781.00	765.25

Days of inventory on hand (DOH) measures how efficiently a company manages its inventory. In the case of Mosaic Company, the trend shows a slight improvement in the most recent quarter, Q4 2023, with 80.19 days of inventory on hand compared to 96.73 days in Q4 2022. This indicates that Mosaic is able to turn its inventory into sales faster.

Days of sales outstanding (DSO) reflects how quickly a company collects revenue from its credit sales. Mosaic Company's DSO has generally improved over the quarters, with Q2 and Q3 2023 showing the most significant reduction in days outstanding. This indicates that Mosaic is collecting its receivables more efficiently.

Number of days of payables measures how long a company takes to pay its suppliers. Mosaic's payables days have fluctuated but remained relatively steady over the quarters, with a slight increase in Q4 2023 compared to the previous quarter. This suggests that Mosaic is maintaining a consistent approach to managing its payables.

Overall, the trend in Mosaic Company's activity ratios indicates improvements in inventory management and accounts receivable collection efficiency, with a stable approach to managing payables. This suggests that Mosaic is effectively managing its working capital and operational cash flow.

Long-term

	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
Fixed asset turnover	1.04	1.01	1.22	1.45	1.51	1.63	1.40	1.15	0.99	0.91	0.84	0.79	0.73	0.70	0.74	0.77	0.76	0.81	0.83	0.82
Total asset turnover	0.61	0.58	0.69	0.81	0.82	0.87	0.74	0.63	0.56	0.53	0.47	0.47	0.44	0.42	0.44	0.45	0.46	0.47	0.48	0.48

The Fixed Asset Turnover ratio for Mosaic Company has shown a declining trend over the past year, decreasing from 1.51 in Q4 2022 to 1.01 in Q4 2023. This indicates that the company is generating less revenue from its fixed assets. However, the ratio remains above 1, suggesting that Mosaic is effectively utilizing its fixed assets to generate sales.

On the other hand, the Total Asset Turnover ratio has also decreased steadily over the same period, falling from 0.82 in Q4 2022 to 0.59 in Q4 2023. This indicates that Mosaic is generating less revenue relative to its total assets. A lower total asset turnover ratio may suggest inefficiencies in asset utilization or a decrease in sales generated from the total asset base.

Overall, the declining trend in both the Fixed Asset Turnover and Total Asset Turnover ratios may indicate potential inefficiencies in asset utilization at Mosaic Company. Further analysis and comparison with industry benchmarks may be required to better understand the company's performance in managing its long-term assets.