AdvanSix Inc (ASIX)
Working capital turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Revenue | US$ in thousands | 1,524,830 | 1,942,860 | 1,679,600 | 1,150,210 | 1,290,570 |
Total current assets | US$ in thousands | 419,804 | 440,928 | 349,854 | 333,503 | 290,537 |
Total current liabilities | US$ in thousands | 358,918 | 393,492 | 309,822 | 287,037 | 291,726 |
Working capital turnover | 25.04 | 40.96 | 41.96 | 24.75 | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,524,830K ÷ ($419,804K – $358,918K)
= 25.04
The working capital turnover of AdvanSix Inc has exhibited fluctuations over the past five years. In 2023, the working capital turnover stood at 25.19, reflecting a decrease from the previous year's ratio of 41.02. Despite this decline, the current ratio indicates that the company is generating $25.19 in revenue for every dollar invested in working capital. This suggests that the company is efficient at managing its working capital to generate sales. It is important to monitor trends in working capital turnover over time to assess the company's operational efficiency and financial health effectively.
Peer comparison
Dec 31, 2023