AAON Inc (AAON)
Working capital 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 | 1,200,635 | 1,209,555 | 1,194,273 | 1,164,664 | 1,168,518 | 1,116,478 | 1,047,113 | 971,970 | 888,788 | 770,472 | 666,438 | 601,500 | 534,517 | 514,935 | 511,136 | 492,856 | 514,551 | 520,425 | 499,153 | 492,994 |
| Total current assets | US$ in thousands | 488,212 | 427,836 | 423,095 | 392,227 | 408,954 | 425,292 | 424,211 | 384,179 | 349,116 | 336,064 | 327,412 | 283,696 | 218,080 | 270,615 | 259,140 | 245,407 | 220,251 | 225,531 | 219,775 | 196,966 |
| Total current liabilities | US$ in thousands | 174,905 | 139,833 | 141,319 | 125,163 | 126,749 | 140,479 | 153,673 | 137,871 | 145,567 | 142,184 | 136,169 | 114,226 | 86,768 | 74,206 | 78,511 | 66,679 | 59,033 | 61,506 | 76,620 | 64,185 |
| Working capital turnover | 3.83 | 4.20 | 4.24 | 4.36 | 4.14 | 3.92 | 3.87 | 3.95 | 4.37 | 3.97 | 3.48 | 3.55 | 4.07 | 2.62 | 2.83 | 2.76 | 3.19 | 3.17 | 3.49 | 3.71 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,200,635K ÷ ($488,212K – $174,905K)
= 3.83
AAON Inc's working capital turnover ratio has shown fluctuation over the period from March 31, 2020, to December 31, 2024. The ratio measures how efficiently the company is utilizing its working capital to generate sales revenue.
Starting at 3.71 on March 31, 2020, the ratio decreased to 2.76 on March 31, 2021, indicating a decrease in efficiency in utilizing working capital during that period. Subsequently, there was some improvement as the ratio increased to 4.07 on December 31, 2021, reaching its highest point during the period analyzed.
From that point on, the ratio fluctuated between 3.48 and 4.37 until December 31, 2024. The highest value of 4.37 on December 31, 2022, suggests improved efficiency in converting working capital into sales during that quarter. However, by December 31, 2024, the ratio decreased to 3.83, indicating a slight decline in efficiency compared to the previous quarter.
Overall, AAON Inc's working capital turnover ratio has shown variability, reflecting changes in the company's ability to efficiently use its working capital to generate sales revenue during the period under review.
Peer comparison
Dec 31, 2024