Titan International Inc (TWI)

Fixed asset turnover

		Dec 31, 2024	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
Revenue (ttm)	US$ in thousands	1,845,937	1,852,563	1,806,359	1,755,365	1,821,800	1,941,367	2,070,308	2,162,027	2,169,380	2,147,290	2,066,950	1,932,694	1,780,215	1,619,447	1,473,837	1,321,331	1,259,313	1,234,195	1,275,328	1,379,792
Property, plant and equipment	US$ in thousands	—	—	—	—	—	313,116	307,612	300,447	305,537	287,618	308,677	298,285	322,054	323,299	329,603	307,620	319,854	324,959	337,646	344,078
Fixed asset turnover		—	—	—	—	—	6.20	6.73	7.20	7.10	7.47	6.70	6.48	5.53	5.01	4.47	4.30	3.94	3.80	3.78	4.01

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,845,937K ÷ $—K
= —

The fixed asset turnover ratio measures how effectively a company is utilizing its fixed assets to generate sales. A higher fixed asset turnover ratio indicates that the company is generating more sales relative to the value of its fixed assets.

Examining the fixed asset turnover trend for Titan International Inc over the past years, we observe a generally increasing pattern from March 31, 2020, to December 31, 2023. The ratio started at 4.01 on March 31, 2020, and showed consistent growth, reaching a peak of 7.20 by March 31, 2023. This upward trend suggests that Titan International Inc was effectively using its fixed assets to drive sales during this period.

However, there was a slight decline in the fixed asset turnover ratio in the subsequent quarters, with the ratio dropping to 6.73 by June 30, 2023, and further declining to 6.20 by September 30, 2023. This decline may indicate a potential decrease in the efficiency of utilizing fixed assets to generate sales or a change in the company's operational dynamics.

Given that the fixed asset turnover ratio data is unavailable for the quarters beyond December 31, 2023, it is difficult to provide a comprehensive analysis for the later periods. Further information on Titan International Inc's financial performance and strategic initiatives would be needed to understand the factors driving the fluctuations in the fixed asset turnover ratio and assess the company's overall operational efficiency.