Middlesex Water Company (MSEX)

Fixed 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	191,877	183,372	174,987	165,353	160,542	160,340	159,166	157,131	161,158	154,740	147,137	144,256	135,282	135,917	135,959	134,658	133,956	131,761	129,520	127,795
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	—	—	935,584	914,945	894,244	873,682	881,299	865,947	851,710	831,467	813,014	782,276	762,373	742,701
Fixed asset turnover		—	—	—	—	—	—	—	—	0.17	0.17	0.16	0.17	0.15	0.16	0.16	0.16	0.16	0.17	0.17	0.17

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $191,877K ÷ $—K
= —

The fixed asset turnover ratio for Middlesex Water Company has been relatively stable around the range of 0.15 to 0.17 over the past few years based on the provided data. The ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. A higher fixed asset turnover ratio indicates that the company is generating more revenue per unit of fixed assets.

In Middlesex Water Company's case, the slight fluctuations in the fixed asset turnover ratio within the 0.15 to 0.17 range may indicate consistent efficiency in utilizing its fixed assets to generate revenue over the period under review. However, without further context or comparison to industry benchmarks or historical data, it is hard to draw definitive conclusions about the company's performance solely based on the fixed asset turnover ratio. Additionally, the lack of data for the most recent periods (after March 31, 2023) limits a comprehensive analysis of the trend in the fixed asset turnover ratio for the company.