Apogee Enterprises Inc (APOG)
Working capital turnover
| Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Nov 30, 2023 | Nov 25, 2023 | Aug 31, 2023 | Aug 26, 2023 | May 31, 2023 | May 27, 2023 | Feb 28, 2023 | Feb 25, 2023 | Nov 30, 2022 | Nov 26, 2022 | Aug 31, 2022 | Aug 27, 2022 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,360,994 | 1,458,353 | 1,478,849 | 1,476,123 | 1,822,581 | 1,733,203 | 2,076,483 | 2,098,482 | 2,141,925 | 2,132,355 | 1,824,697 | 1,830,831 | 1,842,518 | 1,870,522 | 2,215,580 | 2,204,368 | 2,183,988 | 2,139,836 | 1,726,861 | 1,704,443 |
| Total current assets | US$ in thousands | 442,104 | 431,321 | 393,788 | 372,502 | 358,639 | 358,639 | 372,459 | 372,459 | 376,314 | 376,314 | 393,725 | 393,725 | 361,628 | 383,101 | 371,226 | 396,690 | 424,218 | 424,218 | 371,161 | 371,161 |
| Total current liabilities | US$ in thousands | 285,456 | 263,909 | 238,849 | 227,103 | 244,705 | 244,705 | 236,575 | 236,575 | 224,286 | 224,286 | 233,159 | 233,159 | 242,549 | 242,549 | 232,037 | 232,037 | 233,383 | 233,383 | 207,065 | 207,065 |
| Working capital turnover | 8.69 | 8.71 | 9.54 | 10.15 | 16.00 | 15.21 | 15.28 | 15.44 | 14.09 | 14.03 | 11.36 | 11.40 | 15.47 | 13.31 | 15.92 | 13.39 | 11.44 | 11.21 | 10.52 | 10.39 |
February 28, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,360,994K ÷ ($442,104K – $285,456K)
= 8.69
The working capital turnover ratio for Apogee Enterprises Inc, calculated as net sales divided by average working capital, has shown some fluctuation over the reported periods. The ratio increased from 10.39 on May 28, 2022, to a peak of 16.00 on March 2, 2024, indicating an improvement in the efficiency of Apogee's working capital management.
However, the ratio declined to 8.69 on February 28, 2025, which may suggest a decrease in the company's ability to generate sales relative to its working capital. A lower working capital turnover ratio can imply inefficiency in managing working capital and may signal potential liquidity issues if the trend persists.
In conclusion, while Apogee Enterprises Inc's working capital turnover has shown fluctuations over the reported periods, it is essential for the company to monitor and manage its working capital efficiently to support its sales generation and overall financial health.