Minerals Technologies Inc (MTX)
Fixed 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 | 2,122,900 | 2,110,600 | 2,102,100 | 2,111,700 | 2,074,900 | 2,047,400 | 1,987,400 | 1,887,300 | 1,820,700 | 1,785,000 | 1,699,200 | 1,601,800 | 1,567,300 | 1,575,700 | 1,635,800 | 1,739,600 | 1,757,700 | 1,765,000 | 1,779,100 | 1,790,900 |
| Property, plant and equipment | US$ in thousands | 986,800 | 977,600 | 1,050,600 | 1,057,500 | 1,050,400 | 1,038,300 | 1,053,200 | 1,046,200 | 1,049,100 | 1,052,400 | 1,033,700 | 1,031,300 | 1,039,600 | 1,027,100 | 1,023,600 | 1,034,600 | 1,052,800 | 1,058,900 | 1,069,100 | 1,101,100 |
| Fixed asset turnover | 2.15 | 2.16 | 2.00 | 2.00 | 1.98 | 1.97 | 1.89 | 1.80 | 1.74 | 1.70 | 1.64 | 1.55 | 1.51 | 1.53 | 1.60 | 1.68 | 1.67 | 1.67 | 1.66 | 1.63 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,122,900K ÷ $986,800K
= 2.15
Minerals Technologies, Inc. has exhibited a relatively stable trend in its fixed asset turnover ratio over the past eight quarters. The company's fixed asset turnover ratio has ranged between 1.84 and 2.20, with a peak of 2.20 in both Q4 2023 and Q3 2023. This stability indicates that Minerals Technologies, Inc. is effectively utilizing its fixed assets to generate sales revenue. A higher fixed asset turnover ratio suggests that the company is efficiently deploying its fixed assets to generate sales, which can be indicative of operational efficiency. However, it is essential to consider industry benchmarks and trends to gain a deeper understanding of the company's performance relative to its peers. Overall, the consistent performance of Minerals Technologies, Inc. in terms of fixed asset turnover reflects a strong operational efficiency in utilizing its fixed assets to generate sales revenue.
Peer comparison
Dec 31, 2023