AptarGroup Inc (ATR)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	3,582,890	3,573,282	3,556,988	3,542,831	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
Total current assets	US$ in thousands	1,478,380	1,665,600	1,593,650	1,560,010	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
Total current liabilities	US$ in thousands	1,068,280	1,026,650	1,168,110	1,196,140	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
Working capital turnover		8.74	5.59	8.36	9.74	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

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,582,890K ÷ ($1,478,380K – $1,068,280K)
= 8.74

AptarGroup Inc's working capital turnover has exhibited fluctuations over the past few years, ranging from a low of 4.22 in March 2022 to a high of 12.71 in September 2023. The working capital turnover ratio measures how efficiently the company is utilizing its working capital to generate sales, with a higher ratio indicating better utilization.

The company experienced a significant improvement in working capital turnover from September 2021 to December 2021, with the ratio increasing from 7.26 to 8.59, suggesting improved efficiency in utilizing its working capital to support sales during this period.

However, the ratio declined in the subsequent quarters, reaching a low of 5.59 in September 2024, before rebounding to 8.74 by December 2024. These fluctuations may indicate changes in the company's working capital management practices, inventory turnover, or sales levels.

Overall, AptarGroup Inc's working capital turnover has shown variability, with periods of both improvement and decline, highlighting the importance of closely monitoring and managing working capital efficiency to support the company's operational performance.