Scotts Miracle-Gro Company (SMG)
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 | 3,303,900 | 3,420,200 | 3,544,400 | 3,627,900 | 3,746,500 | 3,804,800 | 4,053,200 | 4,485,900 | 4,645,300 | 4,835,600 | 5,020,100 | 4,904,700 | 4,455,300 | 4,068,600 | 3,676,000 | 3,348,000 | 3,148,900 | 3,076,000 | 3,012,200 | 2,839,200 |
| Total assets | US$ in thousands | 3,716,100 | 3,413,700 | 4,454,400 | 4,988,100 | 4,534,000 | 4,296,800 | 4,993,700 | 6,207,500 | 5,242,200 | 4,800,000 | 4,621,100 | 4,934,100 | 4,000,700 | 3,380,500 | 3,876,800 | 4,135,700 | 3,456,000 | 3,028,700 | 3,467,400 | 3,956,500 |
| Total asset turnover | 0.89 | 1.00 | 0.80 | 0.73 | 0.83 | 0.89 | 0.81 | 0.72 | 0.89 | 1.01 | 1.09 | 0.99 | 1.11 | 1.20 | 0.95 | 0.81 | 0.91 | 1.02 | 0.87 | 0.72 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,303,900K ÷ $3,716,100K
= 0.89
The total asset turnover ratio for Scotts Miracle-Gro Company has shown fluctuation over the past several quarters. The ratio indicates how efficiently the company is generating sales revenue from its assets. A higher total asset turnover ratio generally signifies better efficiency in asset utilization.
Looking at the trend over the past few quarters, the total asset turnover ratio has ranged from as low as 0.72 to as high as 1.20. This variability suggests inconsistency in how well the company is utilizing its assets to generate sales.
For analysis:
- In some quarters, such as Jun 30, 2021, and Dec 31, 2020, the total asset turnover ratio was notably high, indicating effective management in generating sales from its assets.
- However, in other quarters like Mar 31, 2020, and Mar 31, 2023, the ratio was lower, suggesting potential inefficiencies in asset utilization.
It is important for the company to consistently monitor and improve its total asset turnover ratio to ensure optimal efficiency in utilizing its assets to generate revenue.
Peer comparison
Dec 31, 2023