ASGN Inc (ASGN)

Working capital turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	4,099,700	4,450,600	4,581,100	4,009,500	3,502,100
Total current assets	US$ in thousands	917,700	973,300	981,100	1,309,400	994,400
Total current liabilities	US$ in thousands	367,100	394,100	441,900	450,900	416,200
Working capital turnover		7.45	7.68	8.50	4.67	6.06

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $4,099,700K ÷ ($917,700K – $367,100K)
= 7.45

The working capital turnover ratio for ASGN Inc has fluctuated over the past five years. In 2020, the ratio was 6.06, indicating that the company generated $6.06 in revenue for every dollar of working capital invested. However, this ratio decreased to 4.67 in 2021, suggesting a decrease in efficiency in utilizing working capital to generate revenue.

Subsequently, the ratio improved significantly in 2022, reaching 8.50, which indicates a more effective utilization of working capital to drive revenue generation. This improvement continued in 2023 and 2024, with ratios of 7.68 and 7.45, respectively, demonstrating sustained efficiency in converting working capital into revenue over these years.

Overall, the trend in ASGN Inc's working capital turnover shows variability but an overall positive trajectory, with a notable improvement in efficiency from 2021 to 2022, followed by relatively stable performance in subsequent years.