Minerals Technologies Inc (MTX)
Total 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 |
| Total assets | US$ in thousands | 3,346,600 | 3,344,700 | 3,408,200 | 3,450,700 | 3,401,600 | 3,387,300 | 3,403,100 | 3,425,800 | 3,374,200 | 3,384,300 | 3,253,300 | 3,213,200 | 3,209,400 | 3,214,100 | 3,056,900 | 3,069,100 | 3,112,600 | 3,125,900 | 3,149,400 | 3,163,400 |
| 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 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,122,900K ÷ $3,346,600K
= 0.63
The total asset turnover ratio of Minerals Technologies, Inc. has shown a relatively stable trend over the past eight quarters, ranging from 0.56 to 0.65. The ratio reflects the company's ability to generate revenue relative to its total assets.
The higher total asset turnover ratios in Q4 2023 and Q3 2023 (0.65 and 0.64, respectively) indicate that the company generated more revenue per dollar of assets during those periods. This could suggest improved operational efficiency or effective utilization of assets to drive sales.
While the ratio dipped slightly in Q2 2023 and Q1 2023 (0.63 and 0.62, respectively), it remained consistent with previous quarters. The stable performance may indicate a consistent approach to asset management and revenue generation.
Comparing to the same quarter in the previous year, there has been a slight improvement in Q4 2023 compared to Q4 2022 (0.65 vs. 0.62). This suggests potential growth or better utilization of assets in the latest quarter.
Overall, the total asset turnover ratio analysis indicates that Minerals Technologies, Inc. has been relatively successful in generating sales revenue in relation to its total assets, with a stable performance and some improvement in recent quarters.
Peer comparison
Dec 31, 2023