Avient Corp (AVNT)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,025,600	3,817,600	4,743,500	3,167,500	2,803,200
Total current assets	US$ in thousands	1,407,600	1,569,700	1,827,000	1,602,100	1,513,300
Total current liabilities	US$ in thousands	773,600	869,400	940,600	801,000	702,500
Working capital turnover		4.77	5.45	5.35	3.95	3.46

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,025,600K ÷ ($1,407,600K – $773,600K)
= 4.77

Avient Corp's working capital turnover has shown variability over the past five years, ranging from 3.53 in 2019 to 5.44 in 2021. The company's ability to efficiently utilize its working capital to generate sales revenue improved from 2020 to 2021 but decreased slightly in 2022. In 2023, there was a further increase in working capital turnover to 4.96, indicating a positive trend in the company's management of working capital. This metric suggests that Avient Corp is effectively leveraging its working capital to generate sales, which can be a sign of strong operational efficiency and effective asset management.