Avient Corp (AVNT)

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	3,025,600	3,616,800	3,679,400	4,170,600	4,630,600	4,533,100	4,947,900	4,877,400	4,743,500	4,556,500	4,250,500	3,627,700	3,186,800	2,848,400	2,643,400	2,938,100	3,120,000	3,295,400	3,473,000	3,484,000
Total current assets	US$ in thousands	1,407,600	1,364,300	1,510,700	1,564,300	1,569,700	1,988,300	2,020,100	1,930,200	1,827,000	1,848,900	1,858,100	1,716,400	1,602,100	1,497,800	2,583,400	1,990,600	1,513,300	1,173,800	1,019,800	1,034,700
Total current liabilities	US$ in thousands	773,600	727,100	776,500	837,200	869,400	1,555,600	1,570,600	1,559,600	940,600	961,800	934,300	863,600	801,000	768,900	624,300	687,800	702,500	625,500	607,300	570,300
Working capital turnover		4.77	5.68	5.01	5.74	6.61	10.48	11.01	13.16	5.35	5.14	4.60	4.25	3.98	3.91	1.35	2.26	3.85	6.01	8.42	7.50

December 31, 2023 calculation

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

Avient Corp's working capital turnover fluctuated over the eight quarters presented. In the most recent quarter, Q4 2023, the working capital turnover was 4.96, indicating that the company generated $4.96 in revenue for every dollar of working capital invested. This represents an increase from the previous quarter and a slight decline from the same quarter in the previous year.

Looking at the trend over the past two years, there appears to have been a significant decrease in working capital turnover from Q2 2022 to Q3 2022, followed by a gradual recovery in subsequent quarters. The working capital turnover peaked in Q2 and Q3 of 2022, indicating that the company was utilizing its working capital efficiently during that period.

Overall, Avient Corp's working capital turnover has shown variability, suggesting fluctuations in the company's efficiency in generating revenue from its working capital. Further analysis of the reasons behind these fluctuations and comparisons with industry benchmarks could provide more insights into the company's financial performance.