Bellring Brands LLC (BRBR)

Working capital turnover

		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	Dec 31, 2019
Revenue (ttm)	US$ in thousands	1,996,200	1,913,000	1,843,500	1,734,500	1,666,800	1,573,400	1,498,100	1,427,700	1,371,500	1,332,300	1,304,300	1,271,200	1,247,100	1,189,700	1,051,300	1,026,700	988,300
Total current assets	US$ in thousands	592,700	554,200	513,200	464,800	424,200	450,200	497,000	454,000	421,300	423,100	359,500	297,600	388,100	371,900	307,900	324,600	290,200	290,600	349,500	288,100
Total current liabilities	US$ in thousands	203,700	207,900	173,000	162,500	150,200	167,800	157,000	149,100	143,500	177,000	130,600	145,700	251,300	264,400	199,200	138,300	153,100	127,100	128,000	107,400
Working capital turnover		5.13	5.52	5.42	5.74	6.08	5.57	4.41	4.68	4.94	5.41	5.70	8.37	9.12	11.07	9.67	5.51	7.21

September 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,996,200K ÷ ($592,700K – $203,700K)
= 5.13

The working capital turnover ratio for Bellring Brands LLC has displayed fluctuating but generally positive trends over the past few quarters. The ratio has ranged from 4.41 to 11.07 during the period from December 2019 to September 2024. The ratio indicates that, on average, the company has been able to generate revenue 4.41 to 11.07 times over from its working capital investments.

The peaks in the ratio, such as 11.07 in March 2021 and 9.12 in June 2021, suggest that the company efficiently utilized its working capital to generate revenue during those periods. The lower ratios, such as 4.41 in March 2023 and 4.68 in December 2022, indicate a comparatively lower turnover of working capital during those quarters.

Overall, a higher working capital turnover ratio signifies effective management of the company's current assets to generate revenue. Bellring Brands LLC should continue to monitor and improve this ratio over time to ensure optimal utilization of its working capital.