Minerals Technologies Inc (MTX)
Total 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 |
| Total assets | US$ in thousands | 3,346,600 | 3,401,600 | 3,374,200 | 3,209,400 | 3,112,600 |
| Total asset turnover | 0.63 | 0.61 | 0.54 | 0.48 | 0.56 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,108,700K ÷ $3,346,600K
= 0.63
Minerals Technologies, Inc.'s total asset turnover has shown a fluctuating trend over the past five years. The ratio has experienced an increase from 0.50 in 2020 to 0.65 in 2023, indicating that the company generated more revenue per dollar of total assets in 2023 compared to previous years. This improvement may suggest better efficiency in asset utilization or increased sales generation relative to the size of the asset base. However, it is worth noting that the ratio dipped to 0.55 in 2021 before climbing up again.
Overall, the company's total asset turnover performance suggests a varying level of effectiveness in utilizing its assets to generate sales revenue during the period under consideration. Further analysis and comparison with industry benchmarks would provide valuable insights into the company's operational efficiency and asset management strategies.
Peer comparison
Dec 31, 2023