Apogee Enterprises Inc (APOG)
Working capital turnover
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,547,564 | 2,501,973 | 2,557,103 | 2,594,503 | 2,585,810 | 2,517,893 | 2,118,478 | 1,700,683 | 1,312,727 | 1,276,688 | 1,255,080 | 1,248,514 | 1,210,378 | 1,253,972 | 1,279,807 | 1,318,706 | 1,387,439 | 1,396,594 | 1,416,396 | 1,421,471 |
| Total current assets | US$ in thousands | 358,639 | 372,459 | 376,314 | 393,725 | 383,101 | 396,690 | 424,218 | 371,161 | 337,892 | 366,874 | 343,894 | 332,132 | 350,674 | 345,635 | 311,732 | 330,693 | 381,910 | 396,916 | 391,334 | 392,789 |
| Total current liabilities | US$ in thousands | 244,705 | 236,575 | 224,286 | 233,159 | 242,549 | 232,037 | 233,383 | 207,065 | 232,946 | 217,890 | 199,649 | 188,205 | 217,552 | 211,700 | 361,786 | 379,530 | 276,857 | 399,542 | 371,262 | 214,905 |
| Working capital turnover | 22.36 | 18.41 | 16.82 | 16.16 | 18.40 | 15.29 | 11.10 | 10.36 | 12.51 | 8.57 | 8.70 | 8.67 | 9.09 | 9.36 | — | — | 13.21 | — | 70.57 | 7.99 |
March 2, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,547,564K ÷ ($358,639K – $244,705K)
= 22.36
The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales revenue. Apogee Enterprises Inc's working capital turnover has varied significantly over the past few quarters, ranging from a low of 8.57 to a high of 22.36.
A higher working capital turnover ratio indicates that the company is able to generate more sales revenue per unit of working capital employed. In this case, the higher ratios observed, such as 22.36 and 18.41, suggest that Apogee Enterprises Inc has been effectively utilizing its working capital to support sales growth.
Conversely, lower ratios, like 8.57 and 8.70, may indicate inefficiencies in managing working capital, potentially leading to cash flow issues or underutilization of resources.
It is important to note that the working capital turnover ratio should be analyzed in conjunction with other financial metrics to gain a comprehensive understanding of Apogee Enterprises Inc's financial performance and liquidity management.