Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
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: Assets
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Long-term Activity Ratios (Summary)
Mosaic Co., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
The analysis of the financial ratios over the observed periods reveals distinct trends in asset utilization and equity efficiency.
- Net Fixed Asset Turnover
- This ratio exhibited a general upward trend from March 2018 through June 2022. Beginning at 0.65, it increased steadily, with minor fluctuations around late 2019 and early 2020, before accelerating notably from the end of 2020 onward. By June 2022, the ratio reached 1.32, indicating improved effectiveness in utilizing net fixed assets to generate sales over time.
- Total Asset Turnover
- The total asset turnover showed a gradual increase with some periods of stability. Starting at 0.38 in March 2018, the ratio rose to a stable range near 0.46 from 2019 through much of 2020. From early 2021, it resumed growth, reaching 0.69 by June 2022. This suggests a strengthening ability to generate revenue from the company's entire asset base, particularly in the recent periods.
- Equity Turnover
- Equity turnover also demonstrated an overall rising trend with intermittent fluctuations. It moved from 0.74 in early 2018 to about 0.97 at the end of 2019, showing steady improvement. There was a slight dip during the end of 2020, but the ratio recovered and accelerated from early 2021 onward, reaching the highest level of 1.41 by June 2022. This indicates increasingly efficient use of shareholder equity to produce sales over the period.
Overall, the data indicates consistent enhancements in the company's operational efficiency concerning asset and equity utilization, particularly marked in the most recent periods. The improving turnover ratios reflect effective management strategies or favorable market conditions leading to better revenue generation relative to assets and equity.
Net Fixed Asset Turnover
Mosaic Co., net fixed asset turnover calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||
| Property, plant and equipment, net of accumulated depreciation | ||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||
| Linde plc | ||||||||||||||||||||||||
| Sherwin-Williams Co. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q2 2022 Calculation
Net fixed asset turnover
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ Property, plant and equipment, net of accumulated depreciation
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrate a fluctuating but generally upward trend over the examined periods. Starting at approximately 1.93 billion in the first quarter of 2018, net sales increased to levels above 2 billion by mid-2018 and peaked near 2.93 billion in the third quarter of the same year. Following this peak, sales experienced variability with a notable dip in the fourth quarter of 2018 and early 2019 but generally rose thereafter. From the first quarter of 2021 onward, net sales showed significant growth, exceeding 3.4 billion and reaching a high of over 5.3 billion by mid-2022, which indicates a strong recovery and expansion in revenue within the recent quarters.
- Property, Plant, and Equipment (PP&E), Net of Accumulated Depreciation
- PP&E values remained relatively stable with minor fluctuations throughout the periods analyzed. There was an initial slight decline from roughly 11.87 billion in early 2018 to a low near 10.99 billion by the first quarter of 2020. Subsequently, a gradual increase occurred, rising steadily to about 12.84 billion by early 2022 before a small reduction to 12.57 billion in the middle of 2022. Overall, the net value of fixed assets demonstrates modest growth with periodic adjustments likely related to depreciation and capital expenditures.
- Net Fixed Asset Turnover
- The ratio of net fixed asset turnover indicates the efficiency with which the company utilizes its fixed assets to generate sales. Initially, this ratio showed consistent improvement from 0.65 in the first quarter of 2018 to 0.82 by the end of that year. A slight reduction occurred in 2019, stabilizing around 0.76 to 0.80. The ratio then declined moderately in late 2020 before resuming an upward trajectory from 2021 onwards. By mid-2022, the net fixed asset turnover ratio climbed to its highest point of 1.32, reflecting enhanced efficiency in asset utilization correlating with the substantial increase in net sales during the same period.
- Summary
- Overall, the financial data reveals a pattern of increasing revenue with periods of variability and recovery. The relative stability and modest upward trend in PP&E indicate steady asset management without significant fluctuations in fixed asset base. Most notably, the improving net fixed asset turnover ratio in recent quarters underscores growing operational efficiency, suggesting the company has been able to generate significantly more sales from its asset base over time. This improvement aligns with the sharp rise in net sales observed in 2021 and 2022, highlighting a positive correlation between asset utilization and revenue growth.
Total Asset Turnover
Mosaic Co., total asset turnover calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q2 2022 Calculation
Total asset turnover
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrated significant fluctuations over the observed periods. Initially, there was a general upward trend from March 2018 through September 2018, peaking at 2,928,100 thousand USD. This was followed by a notable decline through to March 2020, with values dropping to 1,798,100 thousand USD. From this low point, net sales began a consistent recovery pattern, accelerating strongly from March 2021 onwards and reaching a peak of 5,373,100 thousand USD by June 2022. This represents a substantial increase in net sales, nearly tripling the early 2018 levels by the end of the observed timeframe.
- Total Assets
- Total assets remained relatively stable across the periods but showed subtle variations. Starting from 20,452,300 thousand USD in March 2018, total assets fluctuated slightly but mostly hovered close to 20 to 21 billion USD during this timeframe. There was a minor decrease towards the end of 2019, dropping below 19 billion USD before gradually increasing again in 2021. By June 2022, total assets had reached 23,985,600 thousand USD, marking a moderate growth trend, especially noticeable from mid-2021 onward.
- Total Asset Turnover Ratio
- The total asset turnover ratio exhibited improvement over the analyzed periods, reflecting enhanced efficiency in utilizing assets to generate sales. Starting at a relatively low 0.38 in March 2018, the ratio increased steadily through 2018 and 2019, stabilizing around 0.44 to 0.46 for much of 2020 and early 2021. From mid-2021, this ratio improved significantly to 0.69 by June 2022, which correlates strongly with the notable increase in net sales. This indicates that the company became more effective in leveraging its asset base for revenue generation during the latter periods.
- Overall Analysis
- There is a clear pattern of initial growth in revenue followed by a downturn coinciding with early 2020, likely related to broader economic factors. Subsequently, a strong recovery and acceleration in net sales occurred, surpassing previous highs by a substantial margin. Total assets showed a relatively stable but modest growth trend, with a slight dip around 2019 before increasing again. The improving asset turnover ratio aligns with the recovery and growth in sales, suggesting increased operational efficiency. The data indicates that the company managed asset utilization better over time, contributing to improved sales generation despite relatively stable asset levels.
Equity Turnover
Mosaic Co., equity turnover calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q2 2022 Calculation
Equity turnover
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ Total Mosaic stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales Trend
- The net sales exhibit notable fluctuations over the analyzed quarters. Initially, there was an upward trend from March 2018 through September 2018, reaching a peak before declining in the fourth quarter of 2018. Following another decline into the first quarter of 2019, sales generally increased towards the end of 2019 but faced a downturn in early 2020. From mid-2020 onwards, a strong and continuous growth trend is observed, culminating in a significant surge by the second quarter of 2022, where net sales nearly reached 5.4 billion US dollars, marking the highest value in the period under review.
- Total Mosaic Stockholders’ Equity
- Stockholders' equity remained relatively stable with minor fluctuations from 2018 through mid-2019, showing a slight decreasing trend from early 2019 through the end of 2019. This was followed by a recovery starting in 2020 and a gradual increase through 2021 and into 2022. The most pronounced growth occurred in 2021 and 2022, where equity rose from approximately 9.6 billion US dollars at the start of 2020 to over 11.7 billion US dollars by mid-2022. This indicates strengthening financial position and accumulation of shareholder value over the recent periods.
- Equity Turnover Ratio
- The equity turnover ratio shows an overall increasing trend throughout the period analyzed. Starting at 0.74 in March 2018, the ratio gradually increased with minor volatility, reaching close to 1.0 by the end of 2018. After a slight decrease in late 2019 and early 2020, the ratio rebounded and showed a consistent upward trajectory from 2020 through the second quarter of 2022, ultimately exceeding 1.4. This suggests improving efficiency in generating sales from shareholders' equity over time, especially in the most recent quarters.
- Insights and Overall Analysis
- The combination of rising net sales and increasing equity turnover ratio signals enhanced operational efficiency and sales performance relative to equity. Despite some volatility in net sales earlier in the period, recent quarters exhibit strong growth momentum. The steady increase in stockholders’ equity complements this by indicating solid financial health and expanded capital base. Together, these factors suggest overall positive financial trends, with the company leveraging its equity more effectively to drive higher sales volume, particularly evident in the accelerated growth seen in 2021 and 2022.