Scotts Miracle-Gro Company (SMG)
Total asset turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,466,200 | 3,384,300 | 3,253,700 | 3,255,600 | 3,371,900 | 3,496,100 | 3,579,600 | 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 |
| Total assets | US$ in thousands | 2,871,900 | 3,489,300 | 3,924,200 | 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 |
| Total asset turnover | 1.21 | 0.97 | 0.83 | 0.88 | 0.99 | 0.78 | 0.72 | 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 |
September 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,466,200K ÷ $2,871,900K
= 1.21
The total asset turnover ratio for Scotts Miracle-Gro Company has fluctuated over the past few years, indicating varying efficiency in generating sales from its total assets. The ratio has generally been above 1.0 in recent periods, suggesting that the company is effectively utilizing its assets to generate revenue. Specifically, the total asset turnover ratio improved from 0.81 in March 2020 to a peak of 1.21 in September 2024.
A total asset turnover ratio above 1.0 indicates that the company is producing more in sales relative to its total assets, which is a positive sign of operational efficiency. It implies that Scotts Miracle-Gro is managing its assets efficiently to drive revenue growth.
Despite some fluctuations, the overall trend of the total asset turnover ratio for Scotts Miracle-Gro Company has been positive, showing an improvement in asset utilization over the analyzed period. This indicates that the company has been effective in deploying its assets to generate sales and enhance financial performance.
Peer comparison
Sep 30, 2024