Aptiv PLC (APTV)

Working capital turnover

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	20,051,000	19,772,000	19,272,000	18,129,000	17,489,000	16,983,000	16,023,000	15,773,000	15,618,000	15,696,000	15,710,000	13,863,000	13,066,000	12,450,000	12,341,000	14,008,000	14,357,000	14,397,000	14,323,000	14,380,000
Total current assets	US$ in thousands	8,247,000	8,490,000	8,072,000	7,725,000	7,784,000	10,983,000	10,558,000	10,774,000	8,436,000	8,104,000	8,055,000	7,801,000	7,465,000	6,589,000	5,412,000	6,190,000	5,319,000	5,385,000	4,854,000	4,819,000
Total current liabilities	US$ in thousands	4,808,000	4,696,000	4,589,000	4,508,000	4,865,000	4,129,000	4,019,000	4,146,000	4,207,000	3,834,000	3,905,000	3,962,000	4,046,000	3,579,000	2,859,000	3,655,000	4,054,000	3,875,000	3,991,000	4,014,000
Working capital turnover		5.83	5.21	5.53	5.64	5.99	2.48	2.45	2.38	3.69	3.68	3.79	3.61	3.82	4.14	4.83	5.53	11.35	9.53	16.60	17.86

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $20,051,000K ÷ ($8,247,000K – $4,808,000K)
= 5.83

Working capital turnover is a metric used to assess how efficiently a company is utilizing its working capital to generate sales revenue. Aptiv PLC's working capital turnover over the past eight quarters has fluctuated, ranging from 2.38 to 5.99. A higher turnover ratio indicates that the company is effectively using its current assets to support sales activity.

In Q4 2023, Aptiv PLC reported a working capital turnover of 5.83, showing an improvement from the previous quarter. This may indicate that the company is managing its working capital more efficiently, possibly through better inventory management or collection of accounts receivable.

However, it's important to note that working capital turnover is just one metric and should be analyzed in conjunction with other financial ratios and performance indicators to gain a comprehensive understanding of a company's overall financial health and operational efficiency.