Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Long-term Activity Ratios (Summary)
Mosaic Co., long-term (investment) activity ratios
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Net fixed asset turnover | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | ||||||
| Total asset turnover | ||||||
| Equity turnover |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
The analysis of the financial ratios over the five-year period indicates several trends in asset utilization and efficiency.
- Net fixed asset turnover
- The ratio showed a generally stable performance from 2017 to 2020, fluctuating slightly between 0.73 and 0.82. In 2021, there was a notable increase to 0.99, suggesting improved efficiency in using fixed assets to generate revenue during that year.
- Net fixed asset turnover (including operating lease, right-of-use asset)
- This ratio follows a very similar pattern to the standard net fixed asset turnover ratio, confirming consistent treatment of operating lease assets in turnover calculation. It also peaked at 0.98 in 2021, reinforcing the trend of enhanced asset productivity.
- Total asset turnover
- The total asset turnover ratio increased from 0.40 in 2017 to 0.48 in 2018, indicating improved utilization of total assets. It then slightly declined to 0.44 by 2020 but rose again to 0.56 in 2021, marking the highest efficiency in the period studied, which implies better overall asset management or revenue growth relative to asset base in the latest year.
- Equity turnover
- This ratio showed an upward trend over the five years, starting at 0.77 in 2017 and incrementally rising to 1.17 in 2021. The steady increase reflects enhanced ability to generate sales from shareholders' equity, which can be indicative of improved profitability or more effective use of equity financing.
Overall, the data suggest an improvement in asset and equity utilization in 2021, potentially driven by operational efficiencies or strategic asset management contributing to higher turnover ratios across the board.
Net Fixed Asset Turnover
Mosaic Co., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | ||||||
| Property, plant and equipment, net | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Linde plc | ||||||
| Sherwin-Williams Co. | ||||||
| Net Fixed Asset Turnover, Sector | ||||||
| Chemicals | ||||||
| Net Fixed Asset Turnover, Industry | ||||||
| Materials | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= ÷ =
2 Click competitor name to see calculations.
The financial data over the five-year period reflects several important trends in sales, asset investment, and operational efficiency.
- Net Sales
- Net sales showed an overall upward trend with fluctuations. Starting at approximately $7.41 billion in 2017, sales increased significantly to about $9.59 billion in 2018. A slight decline followed in 2019 and 2020, with sales dropping to approximately $8.91 billion and $8.68 billion, respectively. However, there was a notable recovery in 2021, with net sales reaching a peak of approximately $12.36 billion, indicating a strong rebound and growth momentum in the latest period.
- Property, Plant, and Equipment (Net)
- There was a steady increase in net property, plant, and equipment values from 2017 through 2021. The net book value rose from $9.71 billion in 2017 to $11.75 billion in 2018, then experienced a slight dip in 2019 to $11.69 billion but recovered and continued to increase to $11.85 billion in 2020 and $12.48 billion in 2021. This suggests ongoing investment in fixed assets, potentially signaling capacity expansion or modernization efforts.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio fluctuated mildly over the period, with values ranging between 0.73 and 0.99. The ratio started at 0.76 in 2017, peaked at 0.82 in 2018, then declined in 2019 and 2020 to 0.76 and 0.73, respectively. In 2021, the ratio increased substantially to 0.99. This upward shift in 2021 implies improved efficiency in utilizing fixed assets to generate sales, corresponding with the significant sales growth in the same year. The previous declines may reflect either decreased sales efficiency or increased asset base without proportional sales growth during that time.
In summary, the data indicates that after some volatility, particularly in sales and asset utilization, the company experienced strong sales growth and improved fixed asset efficiency in 2021. The sustained increase in property, plant, and equipment suggests ongoing capital investment that aligns with the recent operational improvements.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Mosaic Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | ||||||
| Property, plant and equipment, net | ||||||
| Operating lease right-of-use assets | ||||||
| Property, plant and equipment, net (including operating lease, right-of-use asset) | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Linde plc | ||||||
| Sherwin-Williams Co. | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Chemicals | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Materials | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales showed a general upward trend over the reported periods, beginning at approximately $7.41 billion in 2017 and increasing to around $12.36 billion by the end of 2021. A notable peak occurred in 2018, followed by a decline in 2019 and 2020, and then a significant recovery in 2021 exceeding previous years' levels.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment exhibited a steady increase throughout the period. Starting from about $9.71 billion in 2017, it rose consistently each year, reaching roughly $12.60 billion in 2021, indicating ongoing investment or capital retention in fixed assets.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, which measures sales generated per dollar of fixed assets, fluctuated during the period. It increased from 0.76 in 2017 to a peak of 0.82 in 2018, then declined to 0.75 in 2019 and further to 0.72 in 2020. In 2021, the ratio notably improved to 0.98, suggesting enhanced efficiency in utilizing fixed assets to generate sales in the most recent year observed.
- Overall Analysis
- The data reflects an entity experiencing growth in sales accompanied by a consistent expansion in fixed assets. The temporary dip in sales during 2019 and 2020 was matched by a decline in asset turnover efficiency, possibly signaling operational challenges or market conditions affecting utilization. The recovery in 2021, indicated by increased sales and higher turnover ratio, points to improved asset management and sales performance.
Total Asset Turnover
Mosaic Co., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | ||||||
| Total assets | ||||||
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | ||||||
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Linde plc | ||||||
| Sherwin-Williams Co. | ||||||
| Total Asset Turnover, Sector | ||||||
| Chemicals | ||||||
| Total Asset Turnover, Industry | ||||||
| Materials | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited a generally upward trajectory over the five-year period. Starting at $7.41 billion in 2017, sales increased substantially to $9.59 billion in 2018. However, there was a decline in 2019 to $8.91 billion, which continued slightly in 2020, reaching $8.68 billion. In 2021, net sales rebounded strongly, recording a significant increase to $12.36 billion, the highest level in the period observed.
- Total Assets
- Total assets showed a steady increase throughout the period. The assets rose from $18.63 billion in 2017 to $20.12 billion in 2018, followed by a slight dip in 2019 to $19.30 billion. From 2019 onwards, total assets grew consistently, reaching $19.79 billion in 2020 and peaking at $22.04 billion in 2021. This trend suggests ongoing investment or asset acquisition despite minor fluctuations.
- Total Asset Turnover
- The total asset turnover ratio, which measures the efficiency of asset use to generate sales, revealed some variability but an overall increasing trend by the end of the period. The ratio began at 0.40 in 2017, improved to 0.48 in 2018, and slightly decreased to 0.46 in 2019. In 2020, the turnover ratio fell further to 0.44, indicating lower efficiency that year. However, it then rose sharply to 0.56 in 2021, reflecting enhanced asset utilization during the year that corresponded with the strong recovery in net sales.
- Summary
- The data reflects a company experiencing fluctuating sales and asset levels within the given timeframe, with a notable increase in both metrics toward the end of 2021. Despite some declines in sales and asset turnover in 2019 and 2020, the pronounced recovery in 2021 suggests improved operational efficiency and asset management. The increase in total assets alongside a higher asset turnover ratio in 2021 indicates that assets were effectively employed to generate increased sales during that year.
Equity Turnover
Mosaic Co., equity turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | ||||||
| Total Mosaic stockholders’ equity | ||||||
| Long-term Activity Ratio | ||||||
| Equity turnover1 | ||||||
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Linde plc | ||||||
| Sherwin-Williams Co. | ||||||
| Equity Turnover, Sector | ||||||
| Chemicals | ||||||
| Equity Turnover, Industry | ||||||
| Materials | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Equity turnover = Net sales ÷ Total Mosaic stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited an overall upward trend over the five-year period, increasing from approximately 7.41 billion USD in 2017 to around 12.36 billion USD in 2021. Notably, there was a peak in 2018 at about 9.59 billion USD, followed by a slight decline in 2019 and 2020, before a significant rise in 2021. This pattern suggests variability in sales performance, with a strong recovery and growth in the most recent year.
- Total Mosaic Stockholders' Equity
- The total stockholders' equity remained relatively stable, fluctuating moderately within the range of approximately 9.18 billion USD to 10.69 billion USD across the observed years. Equity increased from 9.62 billion USD in 2017 to its highest point in 2018 at nearly 10.40 billion USD, declined in 2019, and then showed a recovery in subsequent years, reaching around 10.60 billion USD in 2021. This indicates a fairly consistent equity base with some cyclical adjustments.
- Equity Turnover Ratio
- The equity turnover ratio demonstrated a general upward progression, starting at 0.77 in 2017 and rising to 1.17 in 2021. The ratio increased steadily each year except for a slight dip in 2020. The peak ratio in 2021 suggests improved efficiency in utilizing equity to generate sales, reflecting enhanced asset productivity in that period.