The Andersons Inc (ANDE)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 14,750,100 | 17,325,400 | 12,612,000 | 8,064,620 | 8,003,250 |
| Total current assets | US$ in thousands | 2,806,960 | 3,465,950 | 3,372,330 | 2,416,410 | 1,945,340 |
| Total current liabilities | US$ in thousands | 1,636,330 | 2,521,320 | 2,463,930 | 1,931,680 | 1,439,920 |
| Working capital turnover | 12.60 | 18.34 | 13.88 | 16.64 | 15.83 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $14,750,100K ÷ ($2,806,960K – $1,636,330K)
= 12.60
Andersons Inc.'s working capital turnover has shown fluctuations over the past five years, ranging from a low of 12.60 in 2023 to a high of 18.34 in 2022. This ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue. A higher working capital turnover ratio typically reflects better efficiency in managing working capital and converting it into sales. The decreasing trend from 2022 to 2023 may raise concerns about the company's ability to efficiently utilize its working capital to support its operations and generate revenue. Further analysis is recommended to understand the factors driving the changes in the working capital turnover ratio and to assess the overall financial health of Andersons Inc.
Peer comparison
Dec 31, 2023