American Woodmark Corporation (AMWD)
Working capital turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,709,585 | 1,762,468 | 1,786,990 | 1,808,375 | 1,847,502 | 1,875,319 | 1,933,930 | 2,021,562 | 2,066,200 | 2,086,811 | 2,065,834 | 1,957,498 | 1,857,186 | 1,828,870 | 1,801,088 | 1,796,508 | 1,744,014 | 1,669,821 | 1,633,622 | 1,613,055 |
| Total current assets | US$ in thousands | 364,453 | 379,720 | 402,643 | 415,222 | 402,710 | 402,130 | 402,065 | 394,112 | 368,255 | 411,458 | 476,311 | 464,325 | 428,657 | 383,963 | 371,708 | 355,420 | 392,080 | 404,054 | 404,353 | 387,969 |
| Total current liabilities | US$ in thousands | 182,942 | 189,321 | 208,568 | 209,356 | 195,726 | 188,281 | 181,489 | 175,502 | 178,124 | 168,120 | 211,196 | 236,864 | 216,228 | 192,950 | 195,134 | 198,817 | 220,447 | 210,883 | 195,148 | 178,065 |
| Working capital turnover | 9.42 | 9.26 | 9.21 | 8.78 | 8.93 | 8.77 | 8.77 | 9.25 | 10.87 | 8.58 | 7.79 | 8.61 | 8.74 | 9.57 | 10.20 | 11.47 | 10.16 | 8.64 | 7.81 | 7.68 |
April 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,709,585K ÷ ($364,453K – $182,942K)
= 9.42
The analysis of American Woodmark Corporation’s working capital turnover ratios over the provided period reveals several notable trends and patterns. The ratio ranged from a low of 7.68 in July 2020 to a high of 11.47 in July 2021, indicating significant variability in how efficiently the company utilizes its working capital to generate sales.
Initially, the ratio increased steadily from 7.68 in July 2020 to a peak of 11.47 in July 2021, suggesting an improvement in working capital efficiency during this period. This upward trend continued until October 2021, where it slightly declined to 10.20. Subsequently, the ratio exhibited some fluctuations, decreasing to a low of 7.79 in October 2022 before rising again to above 10 in certain quarters, notably reaching 10.87 in April 2023.
In the most recent data points, the ratio has stabilized around 8.77 to 9.42, with a slight upward trend observed toward the end of the period. The overall pattern indicates periods of improved efficiency followed by declines, which may reflect seasonal variations, operational adjustments, or changes in sales and working capital management strategies.
The fluctuations in working capital turnover suggest that the company’s ability to efficiently convert working capital into sales has experienced variability over this timeframe. The peaks reflect periods of enhanced operational efficiency, whereas the declines may point to increased working capital levels, sales slowdowns, or shifts in inventory and receivables management.
In summary, American Woodmark Corporation’s working capital turnover has demonstrated periods of both growth and contraction, with a general tendency toward stabilization in recent quarters around an average that remains below the initial peak, indicating ongoing efforts or challenges in maintaining high efficiency in working capital utilization.