AGCO Corporation (AGCO)
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 | 14,407,800 | 18,393,300 | 21,184,200 | 23,251,800 | 25,289,800 | 23,806,900 | 23,015,000 | 22,886,900 | 22,269,900 | 21,391,700 | 20,934,100 | 19,185,200 | 18,284,400 | 12,873,900 | 12,094,900 | 12,926,600 | 13,061,500 | 18,200,000 | 18,410,000 | 18,624,800 |
| Total current assets | US$ in thousands | 6,340,800 | 6,675,100 | 6,747,000 | 6,328,800 | 5,739,300 | 5,701,500 | 5,704,300 | 5,637,000 | 5,014,100 | 4,807,900 | 4,728,200 | 4,298,300 | 4,368,400 | 3,944,700 | 3,870,900 | 3,810,000 | 3,729,100 | 3,956,600 | 4,161,600 | 3,961,300 |
| Total current liabilities | US$ in thousands | 4,343,600 | 4,119,100 | 4,302,500 | 3,984,300 | 4,088,000 | 3,617,900 | 3,630,500 | 3,435,200 | 3,454,600 | 3,549,200 | 3,619,300 | 3,414,600 | 3,362,800 | 2,857,500 | 2,607,700 | 2,562,100 | 2,884,500 | 3,027,700 | 3,228,900 | 3,054,700 |
| Working capital turnover | 7.21 | 7.20 | 8.67 | 9.92 | 15.32 | 11.43 | 11.10 | 10.39 | 14.28 | 17.00 | 18.88 | 21.71 | 18.18 | 11.84 | 9.57 | 10.36 | 15.46 | 19.59 | 19.74 | 20.54 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $14,407,800K ÷ ($6,340,800K – $4,343,600K)
= 7.21
AGCO Corp.'s working capital turnover has fluctuated over the past eight quarters, ranging from a low of 5.20 in Q1 2022 to a high of 7.66 in Q4 2022. This ratio measures how efficiently the company is managing its working capital to generate sales revenue. A higher turnover ratio generally indicates effective management of working capital, as the company is able to convert its current assets into sales more frequently.
Based on the data provided, AGCO Corp.'s working capital turnover has generally been above 5, with some quarters showing stronger performance than others. This suggests that the company has been efficient in utilizing its working capital to support its sales operations. However, the fluctuations in the ratio over time may merit further investigation into the company's working capital management practices and potential factors affecting its performance in different quarters.
Peer comparison
Dec 31, 2023