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
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
The financial ratios indicate varying trends over the analyzed quarterly periods, reflecting changes in asset utilization and efficiency.
- Net Fixed Asset Turnover
- This ratio, first available from March 31, 2018, shows a concentration around the 0.7 to 0.8 range in the initial years. From 2018 through 2020, it remained relatively stable, fluctuating narrowly between 0.73 and 0.8. Beginning in 2021, a clear upward trend emerges, increasing from 0.78 at the start of 2021 to 1.32 by mid-2022. This suggests improving efficiency in using fixed assets to generate sales, with a notable acceleration in asset turnover capacity during the most recent reporting periods.
- Total Asset Turnover
- The total asset turnover ratio exhibits moderate variability over time. Starting at 0.4 in early 2018, the ratio slightly dipped to 0.38 in mid-2018 but then experienced a gradual and steady increase overall. From 2019 through 2020, it remained consistently around 0.44 to 0.46, indicating stable asset utilization. A modest but steady rise is observable in 2021 and into 2022, culminating in a ratio of 0.69, the highest in the reviewed periods. This trend mirrors an improving ability to generate revenue from total assets, especially evident in the last two years.
- Equity Turnover
- Equity turnover displays a generally positive trend through the entire timeframe with some fluctuations. Initially reported at 0.77 in early 2018, the ratio increased overall, reaching a peak of 1.05 at the end of 2019. A slight decline occurred in 2020, dropping to approximately 0.91 by the end of that year, indicating decreased efficiency in equity usage for revenue generation during that period. However, from early 2021 onward, equity turnover shows a robust recovery and growth, ascending continuously from 0.95 to 1.41 by mid-2022, representing enhanced equity utilization in generating sales.
In summary, all three ratios demonstrate improving trends post-2020, with the most significant growth observed in net fixed asset turnover and equity turnover. Earlier periods show relative stability or minor fluctuations. The recent upward movements suggest a period of enhanced operational efficiency and more effective use of both fixed and total assets as well as equity to generate revenues.
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
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.
The financial data reveals distinct trends in sales volume, asset utilization, and investment in property, plant, and equipment over the period analyzed.
- Net Sales
- Net sales demonstrate a generally upward trajectory with fluctuations between quarters. Starting at approximately $1.58 billion in early 2017, sales increased progressively reaching over $5.37 billion by mid-2022. Notable accelerations appear from mid-2018 onwards, with marked increases particularly in the last two years. Some quarters experienced slight declines or slower growth, but the overall trend indicates significant revenue expansion.
- Property, Plant, and Equipment (Net)
- The net value of property, plant, and equipment remains relatively stable with a slight overall increase across the reported periods. Beginning at around $9.3 billion in early 2017, the figure rose sharply by early 2018 to approximately $11.9 billion and has since oscillated modestly before peaking near $12.8 billion in early 2022. The fluctuations suggest ongoing capital expenditures balanced with asset depreciation and disposals. Despite the rapid sales growth, investment in fixed assets shows a more moderate increase.
- Net Fixed Asset Turnover Ratio
- This ratio, which indicates efficiency in using fixed assets to generate sales, shows improvement over time. From a ratio of 0.76 in the first quarter of 2017, it experienced a dip in 2018 but began a consistent upward trend starting in late 2019. By mid-2022, the ratio reached 1.32, indicating enhanced asset utilization efficiency. The rising ratio alongside increasing sales suggests improved operational effectiveness or possibly better asset management and higher capacity utilization.
Overall, the data points to a period of strong revenue growth accompanied by prudent asset investment and progressively improved efficiency in generating sales from fixed assets. The company's ability to grow sales faster than its net fixed assets results in a rising fixed asset turnover ratio, which may reflect strategic management decisions aimed at optimizing capital expenditures and boosting operational productivity.
Total Asset Turnover
Mosaic Co., total asset turnover calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Linde plc | |||||||||||||||||||||||||||||
| Sherwin-Williams Co. | |||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
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.
The analysis of the quarterly financial data reveals several notable trends and developments over the observed periods.
- Net Sales
- Net sales display a generally upward trajectory from March 2017 through June 2022. Starting at approximately 1,578,100 thousand US dollars in the first quarter of 2017, sales show fluctuations but an overall growth trend, reaching a peak of 5,373,100 thousand US dollars by June 2022. There are notable increments in specific quarters, such as a steep rise between June 2021 and June 2022. Some quarters experience dips, like December 2018 and March 2020, indicating possible seasonality or market influences.
- Total Assets
- Total assets increase over the analyzed period, starting at roughly 17,096,400 thousand US dollars in March 2017 and ending at 23,985,600 thousand US dollars in June 2022. The asset base grows steadily with only marginal decreases in some quarters, such as the period around December 2019 to September 2020, suggesting strategic asset management or divestitures. The general growth in assets may correlate with business expansion or capital investments.
- Total Asset Turnover
- The total asset turnover ratio, available from September 2017 onwards, indicates how efficiently assets are being used to generate sales. Initial values range around 0.38 to 0.4, reflecting moderate asset utilization. Over time, this ratio improves consistently, reaching 0.69 by June 2022. This upward trend suggests enhanced operational efficiency and better use of asset base to produce revenue, particularly significant in the last two years where there is marked progression in turnover.
In summary, the financial data reflects positive sales growth accompanied by expanding total assets. Concurrently, the improvement in asset turnover ratio suggests that the company has been increasingly effective in leveraging its assets to drive revenue growth. The patterns denote a combination of business growth and enhanced operational efficiency over the observed periods.
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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 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. | |||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
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.
The financial data reveals notable trends in net sales, stockholders' equity, and equity turnover over the reported quarters. Net sales exhibit a general upward trajectory despite some fluctuations. From March 31, 2017, net sales show a steady increase, peaking significantly in the last two quarters of the reported period, reaching US$5,373,100 thousand by June 30, 2022. This peak represents more than a threefold increase compared to early 2017, indicating strong sales growth over the period. However, some quarters experienced declines or moderate growth, for instance, net sales decreased from December 31, 2018 to March 31, 2019, and from March 31, 2020, to March 31, 2021, reflecting possible market or operational challenges during those times.
Total Mosaic stockholders’ equity shows a more volatile pattern across the quarters. After beginning at approximately US$9,621,800 thousand in March 2017, it generally increased through the 2017 and early 2018 periods, peaking around US$10,455,000 thousand by March 2018. Thereafter, equity fluctuated with dips notably after December 31, 2018, reaching its lowest values between March 31, 2020, and September 30, 2020 at approximately US$8,386,200 to US$8,532,800 thousand. Following this trough, equity steadily climbed again, surpassing US$11,751,300 thousand by June 30, 2022. This indicates periods of both contraction and expansion in shareholders’ equity, possibly reflecting variations in retained earnings, capital transactions, or market valuation adjustments.
Equity turnover ratios, which measure the efficiency of equity usage in generating sales, were initially unavailable for the 2017 periods but become available from September 30, 2017, onward. These ratios show a generally increasing trend, starting at 0.77 and reaching 1.41 by June 30, 2022. The increase suggests improved efficiency in utilizing equity to generate sales over time. There were minor fluctuations, with the ratio dipping slightly around 2020 and early 2021, coinciding with volatility seen in equity and sales figures during the same period.
Overall, the data indicates growth in sales performance with increasing scale, accompanied by fluctuations in equity likely influenced by external or internal financial dynamics. The rising equity turnover ratio reflects enhanced operational efficiency in converting equity into sales revenue, highlighting improved asset management or profitability metrics over the analyzed period.
- Net Sales
- Strong upward growth trend, rising from US$1,578,100 thousand in early 2017 to over US$5,373,100 thousand by mid-2022, with some intermittent decreases.
- Total Stockholders' Equity
- Variation over time with an initial increase in 2017-2018, followed by decline during 2019-2020, and recovery with growth beyond US$11 billion by mid-2022.
- Equity Turnover Ratio
- Gradual increase from 0.77 in late 2017 to 1.41 by mid-2022, showing enhanced efficiency in using equity to produce sales, despite some short-term fluctuations.