Booking Holdings Inc (BKNG)

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	21,365,000	20,630,000	19,341,000	18,173,000	17,090,000	16,022,000	14,646,000	12,512,000	10,958,000	9,215,000	7,179,000	5,649,000	6,796,000	8,897,000	11,297,000	14,517,000	15,066,000	14,940,000	14,749,000	14,436,000
Total current assets	US$ in thousands	17,034,000	18,479,000	19,349,000	17,632,000	15,798,000	12,410,000	14,924,000	12,875,000	13,145,000	14,352,000	13,789,000	14,108,000	12,206,000	12,583,000	11,453,000	9,260,000	9,833,000	10,056,000	10,020,000	7,077,000
Total current liabilities	US$ in thousands	13,330,000	12,832,000	12,481,000	11,070,000	8,474,000	8,543,000	10,282,000	7,478,000	6,246,000	5,779,000	6,724,000	6,468,000	3,425,000	3,968,000	3,909,000	4,136,000	5,366,000	5,528,000	6,349,000	5,576,000
Working capital turnover		5.77	3.65	2.82	2.77	2.33	4.14	3.16	2.32	1.59	1.07	1.02	0.74	0.77	1.03	1.50	2.83	3.37	3.30	4.02	9.62

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $21,365,000K ÷ ($17,034,000K – $13,330,000K)
= 5.77

Booking Holdings Inc's working capital turnover has shown some fluctuations over the past eight quarters. The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales. A higher ratio indicates that the company is effectively managing its working capital.

In Q4 2023, the working capital turnover ratio was 5.77, which was significantly higher compared to the previous quarter. This suggests that Booking Holdings Inc was able to generate more sales with its working capital in Q4 2023.

In Q3 2023, the ratio was 3.65, showing a decrease from the previous quarter. This decrease could indicate that the company faced challenges in efficiently utilizing its working capital to generate sales during that period.

The ratio then increased to 2.82 in Q2 2023, which was higher than the previous quarter but still lower than Q4 2023. This improvement suggests that the company's working capital management became more efficient in Q2 2023.

In Q1 2023, the ratio was 2.77, slightly lower compared to Q2 2023. This indicates a slight decrease in the efficiency of working capital utilization.

Comparing the data to the same quarters in 2022, there seems to be some variability in the working capital turnover ratio. Notably, Q4 2023 had the highest ratio among the reported quarters, reflecting improved efficiency in utilizing working capital to generate sales.

Overall, Booking Holdings Inc's working capital turnover has shown both ups and downs over the past quarters, emphasizing the importance of closely monitoring and managing working capital efficiency to support the company's financial performance.