Amcor PLC (AMCR)
Working capital turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 15,009,000 | 13,462,000 | 13,539,000 | 13,549,000 | 13,639,000 | 13,777,000 | 14,034,000 | 14,425,000 | 14,694,000 | 14,930,000 | 14,971,000 | 14,836,000 | 14,544,000 | 14,089,000 | 13,588,000 | 13,184,000 | 12,861,000 | 12,550,200 | 12,484,200 | 12,424,300 |
| Total current assets | US$ in thousands | 8,434,000 | 6,702,000 | 4,905,000 | 5,238,000 | 4,965,000 | 5,029,000 | 4,959,000 | 5,085,000 | 5,308,000 | 5,588,000 | 5,863,000 | 5,136,000 | 5,853,000 | 6,170,000 | 5,391,000 | 5,279,000 | 5,266,000 | 4,770,000 | 4,713,000 | 4,612,000 |
| Total current liabilities | US$ in thousands | 6,987,000 | 3,940,000 | 3,897,000 | 4,068,000 | 4,261,000 | 3,913,000 | 3,970,000 | 4,005,000 | 4,476,000 | 4,408,000 | 4,393,000 | 2,915,000 | 5,103,000 | 4,424,000 | 4,293,000 | 4,017,000 | 4,345,000 | 3,670,000 | 3,678,000 | 3,626,000 |
| Working capital turnover | 10.37 | 4.87 | 13.43 | 11.58 | 19.37 | 12.34 | 14.19 | 13.36 | 17.66 | 12.65 | 10.18 | 6.68 | 19.39 | 8.07 | 12.38 | 10.45 | 13.96 | 11.41 | 12.06 | 12.60 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $15,009,000K ÷ ($8,434,000K – $6,987,000K)
= 10.37
The analysis of Amcor PLC's working capital turnover ratio over the specified periods reveals notable fluctuations, indicating variations in operational efficiency and liquidity management.
Initially, during the fiscal year ending September 30, 2020, the ratio stood at 12.60, suggesting a relatively high level of efficiency in utilizing working capital to generate sales. This trend persisted through December 31, 2020, with a marginal decline to 12.06. A further decrease followed by March 31, 2021, to 11.41 points toward a slight deterioration in operational efficiency.
A significant increase was observed in the quarter ending June 30, 2021, where the ratio peaked at 13.96, indicating improved or more efficient use of working capital. However, this was followed by a decline to 10.45 at September 30, 2021, suggesting a temporary reduction in operational efficiency or changes in working capital management practices.
Throughout 2022, the ratio exhibited considerable volatility. It decreased notably to 8.07 by March 31, 2022, reflecting perhaps a period of less efficient working capital utilization or increased working capital levels. A marked recovery occurred in the subsequent quarter, reaching 19.39 at June 30, 2022, indicating a significant improvement or tighter working capital management. However, this was abruptly followed by a decline to 6.68 at September 30, 2022, pointing toward possible operational disruptions or strategic shifts affecting working capital efficiency.
In the latter part of 2022 and into 2023, the ratio generally stabilized, fluctuating between approximately 10 and 13, with values such as 10.18 on December 31, 2022, and 12.65 on March 31, 2023. Notably, the ratio increased again to 17.66 at June 30, 2023, and then decreased to 13.36 by September 30, 2023, indicating periods of both improved efficiency and subsequent moderation.
For the fiscal year ending December 31, 2024, the ratio remained within a moderate range, with several fluctuations—13.43 at the end of the year—showing relatively stable working capital management during this period.
The most recent periods exhibit a downward trend, with the ratio dropping sharply to 4.87 on March 31, 2025, and slightly increasing to 10.37 by June 30, 2025. The substantial dip suggests possible issues such as increased working capital levels, decreased sales efficiency, or strategic shifts in the company's operations.
Overall, Amcor PLC's working capital turnover ratio demonstrates cyclical patterns marked by periods of high efficiency and significant volatility. These fluctuations point to shifts in operational strategies, liquidity management, or external market conditions impacting the company's ability to generate sales from its working capital base.
Peer comparison
Jun 30, 2025