Apple Inc (AAPL)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 383,706,000 | 380,282,000 | 381,105,000 | 382,546,000 | 384,297,000 | 391,397,000 | 384,766,000 | 383,295,000 | 375,622,000 | 363,172,000 | 345,182,000 | 323,401,000 | 292,043,000 | 272,276,000 | 271,618,000 | 265,573,000 | 265,022,000 | 257,408,000 | 256,268,000 | 256,590,000 |
| Total current assets | US$ in thousands | 143,692,000 | 143,566,000 | 122,659,000 | 112,913,000 | 128,777,000 | 135,405,000 | 112,292,000 | 118,180,000 | 153,154,000 | 134,836,000 | 114,423,000 | 121,465,000 | 154,106,000 | 143,713,000 | 140,065,000 | 143,753,000 | 163,231,000 | 162,819,000 | 134,973,000 | 123,346,000 |
| Total current liabilities | US$ in thousands | 133,973,000 | 145,308,000 | 124,963,000 | 120,075,000 | 137,286,000 | 153,982,000 | 129,873,000 | 127,508,000 | 147,574,000 | 125,481,000 | 107,754,000 | 106,385,000 | 132,507,000 | 105,392,000 | 95,318,000 | 96,094,000 | 102,161,000 | 105,718,000 | 89,704,000 | 93,772,000 |
| Working capital turnover | 39.48 | — | — | — | — | — | — | — | 67.32 | 38.82 | 51.76 | 21.45 | 13.52 | 7.11 | 6.07 | 5.57 | 4.34 | 4.51 | 5.66 | 8.68 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $383,706,000K ÷ ($143,692,000K – $133,973,000K)
= 39.48
The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue. A higher ratio indicates better efficiency in managing working capital.
Based on the data provided, Apple Inc's working capital turnover has varied over the past five years. In the most recent quarter ending December 31, 2023, the working capital turnover ratio was 39.48. This implies that Apple generated $39.48 in sales for every dollar of working capital invested during that period.
In comparison to previous quarters, the working capital turnover ratio has shown fluctuations. In some quarters, such as December 2021 and September 2021, the ratio was relatively high at 67.32 and 38.82 respectively, indicating strong efficiency in utilizing working capital. However, in quarters like March 2020 and December 2019, the ratio was lower at 4.34 and 4.51 respectively, suggesting lesser efficiency in utilizing working capital to generate sales.
Overall, Apple Inc's working capital turnover has shown variability over time, reflecting changes in the company's working capital management efficiency. It is important for Apple to continue monitoring and improving its working capital turnover ratio to optimize the utilization of its resources and enhance profitability.
Peer comparison
Dec 31, 2023