Minerals Technologies Inc (MTX)

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 5.85 5.66 5.20 5.00 5.37 5.31 5.20 5.01 5.42 5.56 5.70 5.75 5.59 5.43 5.33 6.12 6.16 6.07 6.05 6.05
Receivables turnover 5.32 5.05 5.01 — 5.14 — — — 4.95 — — — — — — — — — — —
Payables turnover 10.08 10.34 9.03 8.19 9.66 8.71 8.06 7.66 8.23 8.45 8.41 8.49 9.36 9.85 10.31 9.76 9.55 8.86 8.31 8.64
Working capital turnover 3.31 3.40 3.46 3.51 3.65 3.53 3.30 2.97 2.99 2.94 2.15 2.12 2.12 2.03 4.36 3.37 3.38 3.46 3.39 3.49

Minerals Technologies, Inc. has demonstrated consistent efficiency in managing its inventory over the past eight quarters, with inventory turnover ratios ranging from 4.40 to 5.11. The company effectively converted its inventory into sales, indicating a good balance between stock levels and demand for its products.

In terms of receivables turnover, the company has shown a stable performance, with ratios fluctuating between 4.71 and 5.44 over the same period. This indicates that Minerals Technologies efficiently collected payments from its customers, translating credit sales into cash effectively.

The payables turnover ratios for the company varied between 6.72 and 9.06, showcasing the firm's ability to manage its payables effectively. A higher payables turnover ratio suggests that the company is efficiently managing its supplier payments, possibly taking advantage of credit terms to improve cash flow.

The working capital turnover ratios for Minerals Technologies ranged from 3.03 to 3.74, indicating the company's effectiveness in utilizing its working capital to generate revenue. A higher working capital turnover ratio signifies that the firm efficiently utilizes its current assets to support its operations and sales activities.

Overall, based on the activity ratios analysis, Minerals Technologies, Inc. appears to have a well-managed operating cycle, effectively managing its inventory, receivables, payables, and working capital to drive its business operations efficiently.

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 62.43 64.45 70.21 73.04 68.01 68.70 70.18 72.80 67.30 65.71 64.00 63.43 65.25 67.19 68.49 59.63 59.26 60.16 60.29 60.33
Days of sales outstanding (DSO) days 68.62 72.34 72.89 — 71.07 — — — 73.73 — — — — — — — — — — —
Number of days of payables days 36.20 35.29 40.44 44.54 37.79 41.88 45.28 47.68 44.33 43.21 43.43 43.02 38.99 37.05 35.39 37.39 38.23 41.22 43.91 42.26

Minerals Technologies, Inc. has shown a fluctuating trend in its activity ratios over the past eight quarters.

The days of inventory on hand have gradually decreased from a high of 82.97 days in Q1 2022 to 71.43 days in Q4 2023. This indicates a potential efficiency improvement in managing inventory levels.

In terms of days of sales outstanding (DSO), the company has managed to reduce this ratio from 77.44 days in Q2 2022 to 67.13 days in Q4 2023. A lower DSO suggests that the company is collecting its accounts receivable more quickly, which is a positive indicator of liquidity.

On the other hand, the number of days of payables has fluctuated throughout the quarters, ranging from 40.31 days in Q3 2023 to 54.34 days in Q1 2022. A higher number of days of payables may indicate that the company is taking longer to pay its suppliers, potentially affecting relationships but positively impacting cash flow.

Overall, the trends in the activity ratios of Minerals Technologies, Inc. show improvements in managing inventory and collecting receivables efficiently, but with some variability in the payment cycle to suppliers.

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 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
Total asset turnover 0.63 0.63 0.62 0.61 0.61 0.60 0.58 0.55 0.54 0.53 0.52 0.50 0.49 0.49 0.54 0.57 0.56 0.56 0.56 0.57

Minerals Technologies, Inc. has shown consistent performance in utilizing its fixed assets efficiently over the periods analyzed, with the fixed asset turnover ratio staying within the range of 1.84 to 2.20. This indicates that the company is generating sales effectively using its fixed assets, such as property, plant, and equipment.

In terms of total asset turnover, the company has also demonstrated stability with ratios ranging from 0.56 to 0.65. This ratio signifies how well Minerals Technologies is able to generate sales from all its assets, including both fixed and current assets.

Overall, the company's long-term activity ratios reflect a strong ability to efficiently manage its assets and generate revenue. However, it is important to delve deeper into the reasons behind any fluctuations in these ratios to gain a more comprehensive understanding of the company's operational efficiency and performance.