Albany International Corporation (AIN)

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	1,127,205	1,085,916	1,071,101	1,052,195	1,027,602	996,333	962,423	937,136	913,292	900,890	882,355	873,190	889,853	925,016	986,423	1,038,464	1,054,073	1,047,973	1,028,773	1,010,273
Total current assets	US$ in thousands	877,964	856,374	903,800	889,455	838,439	808,714	835,099	788,580	758,801	751,924	717,482	704,394	717,276	680,635	650,480	659,514	618,334	599,870	626,775	612,274
Total current liabilities	US$ in thousands	248,679	242,797	181,115	184,691	211,316	189,537	188,160	178,067	208,166	181,501	175,588	166,962	190,863	178,909	177,202	175,621	202,719	191,542	196,689	204,798
Working capital turnover		1.79	1.77	1.48	1.49	1.64	1.61	1.49	1.53	1.66	1.58	1.63	1.62	1.69	1.84	2.08	2.15	2.54	2.57	2.39	2.48

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,127,205K ÷ ($877,964K – $248,679K)
= 1.79

The working capital turnover for Albany International Corp. has shown some fluctuations over the past eight quarters, ranging from a low of 1.48 in Q2 2023 to a high of 1.82 in Q4 2023.

A working capital turnover ratio of less than 1 indicates inefficiency in managing working capital, while a ratio greater than 1 signifies that the company is utilizing its working capital effectively to generate sales.

In the case of Albany International Corp., the ratios have generally been above 1, reflecting a reasonable level of efficiency in managing working capital to support the company's operations. The improvement from Q2 to Q4 2023 suggests that the company may have optimized its working capital utilization during that period.

It is important for the company to continuously monitor and manage its working capital turnover to ensure smooth operations and sustainable growth. Further analysis and comparison with industry benchmarks could provide more insights into the company's working capital management practices.