Minerals Technologies Inc (MTX)

Fixed asset turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue US$ in thousands 2,108,700 2,074,800 1,820,700 1,556,400 1,745,900
Property, plant and equipment US$ in thousands 986,800 1,050,400 1,049,100 1,039,600 1,052,800
Fixed asset turnover 2.14 1.98 1.74 1.50 1.66

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,108,700K ÷ $986,800K
= 2.14

Minerals Technologies, Inc.'s fixed asset turnover has shown a general increasing trend from 1.70 in 2019 to 2.20 in 2023. This indicates that the company has been more efficient in generating revenue from its fixed assets over the years.

A fixed asset turnover ratio of 2.20 in 2023 implies that for every dollar invested in fixed assets, the company generated $2.20 in revenue. This suggests that Minerals Technologies, Inc. has been effectively utilizing its fixed assets to drive sales.

The consistent improvement in the fixed asset turnover ratio indicates that the company may have been making strategic investments in its fixed assets or implementing operational efficiencies to enhance the productivity of its assets. As a result, the company is generating more revenue from the same amount of fixed assets, which is a positive sign of operational efficiency and effective asset utilization.


Peer comparison

Dec 31, 2023

Company name
Symbol
Fixed asset turnover
Minerals Technologies Inc
MTX
2.14
Air Products and Chemicals Inc
APD
0.72
Arcadium Lithium plc
ALTM
0.36
Linde plc Ordinary Shares
LIN
1.33