Avnet Inc (AVT)
Working capital turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 22,200,750 | 22,145,930 | 22,484,100 | 23,025,630 | 23,757,130 | 24,748,760 | 25,609,790 | 26,122,400 | 26,536,880 | 26,354,920 | 26,328,440 | 25,476,140 | 24,310,710 | 23,164,790 | 21,593,360 | 20,396,310 | 19,534,670 | 18,467,640 | 17,860,750 | 17,727,390 |
| Total current assets | US$ in thousands | 10,018,700 | 9,795,360 | 10,072,400 | 10,679,200 | 10,370,600 | 10,485,800 | 11,139,000 | 10,911,100 | 10,750,900 | 10,443,500 | 10,303,600 | 9,509,900 | 8,876,630 | 8,217,640 | 7,944,210 | 7,465,070 | 7,163,420 | 6,604,600 | 6,454,450 | 6,602,190 |
| Total current liabilities | US$ in thousands | 4,128,100 | 4,014,380 | 4,206,060 | 4,747,880 | 4,465,270 | 4,492,670 | 4,765,560 | 4,290,380 | 4,249,380 | 3,969,750 | 4,057,660 | 4,659,190 | 4,251,650 | 4,065,790 | 3,688,500 | 3,113,340 | 3,055,240 | 2,885,940 | 2,826,320 | 2,766,410 |
| Working capital turnover | 3.77 | 3.83 | 3.83 | 3.88 | 4.02 | 4.13 | 4.02 | 3.95 | 4.08 | 4.07 | 4.22 | 5.25 | 5.26 | 5.58 | 5.07 | 4.69 | 4.76 | 4.97 | 4.92 | 4.62 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $22,200,750K ÷ ($10,018,700K – $4,128,100K)
= 3.77
The analysis of Avnet Inc.'s working capital turnover ratio over various periods reveals notable fluctuations and trends. Starting from September 30, 2020, with a ratio of 4.62, there was a steady increase through the subsequent quarters, reaching a peak of 5.58 as of March 31, 2022. This upward trend indicates improved efficiency in utilizing working capital to generate sales during this period.
Following the peak in early 2022, the ratio exhibited a gradual decline, with a significant drop to 4.22 by December 31, 2022. The decline continued into 2023, with the ratio decreasing further to 3.83 by March 31, 2025. Specifically, from the second quarter of 2022 onward, the ratio exhibited a downward trajectory, suggesting a reduction in the efficiency of working capital utilization in generating sales.
Overall, the data shows that Avnet's working capital turnover was relatively stable with a peak in early 2022 but has experienced a declining trend since then. The ratio's movement indicates challenges or changes in operational efficiency or shifts in sales and working capital management strategies over the analyzed period. The declining trend from 2022 onward warrants attention as it may reflect evolving business conditions affecting the company's asset utilization efficiency.
Peer comparison
Jun 30, 2025