AptarGroup Inc (ATR)
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 | 3,487,450 | 3,444,884 | 3,388,747 | 3,337,384 | 3,322,249 | 3,340,328 | 3,328,910 | 3,295,399 | 3,227,221 | 3,162,557 | 3,096,268 | 2,984,541 | 2,929,340 | 2,851,344 | 2,793,469 | 2,836,825 | 2,859,732 | 2,873,427 | 2,837,924 | 2,805,871 |
| Total current assets | US$ in thousands | 1,549,280 | 1,502,760 | 1,516,020 | 1,481,510 | 1,430,290 | 1,399,730 | 1,558,640 | 1,642,090 | 1,358,210 | 1,344,060 | 1,492,450 | 1,406,980 | 1,369,000 | 1,327,200 | 1,343,570 | 1,514,650 | 1,291,240 | 1,324,730 | 1,418,540 | 1,329,440 |
| Total current liabilities | US$ in thousands | 1,251,310 | 1,231,640 | 1,029,780 | 1,041,160 | 917,176 | 896,652 | 822,032 | 861,493 | 982,492 | 908,368 | 782,566 | 755,929 | 780,329 | 787,121 | 829,767 | 891,298 | 683,275 | 648,837 | 670,934 | 623,916 |
| Working capital turnover | 11.70 | 12.71 | 6.97 | 7.58 | 6.47 | 6.64 | 4.52 | 4.22 | 8.59 | 7.26 | 4.36 | 4.58 | 4.98 | 5.28 | 5.44 | 4.55 | 4.70 | 4.25 | 3.80 | 3.98 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,487,450K ÷ ($1,549,280K – $1,251,310K)
= 11.70
Aptargroup Inc.'s working capital turnover has shown fluctuations over the past eight quarters. In Q4 2023, the working capital turnover was 11.70, indicating that the company generated sales revenue 11.70 times over its average working capital during the quarter. This represents a decrease from the previous quarter where the turnover was 12.71.
The trend over the past year shows that the working capital turnover has generally been increasing from Q1 2022 to Q3 2023, reaching its peak in Q3 2023. However, in Q4 2023, there was a notable drop in the working capital turnover.
While a higher working capital turnover ratio is generally preferred as it indicates efficient utilization of working capital, a significant fluctuation in this ratio may signal potential issues in managing the working capital effectively. Further analysis would be required to understand the reasons behind the fluctuations and their implications for Aptargroup Inc.'s operational efficiency and financial health.
Peer comparison
Dec 31, 2023