Maplebear Inc. (CART)
Working capital turnover
| 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 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,378,000 | 3,298,000 | 3,210,000 | 3,103,000 | 3,042,000 | 2,996,000 | 2,900,000 | 2,805,000 | 2,551,000 | 2,269,000 | 2,076,000 | 1,899,000 | 1,836,000 | 1,366,758 | 897,613 | 459,271 | 21,683 |
| Total current assets | US$ in thousands | 2,697,000 | 2,509,000 | 2,585,000 | 2,707,000 | 3,305,000 | 3,073,000 | 2,896,000 | 2,810,000 | 2,740,000 | 2,740,000 | 2,553,000 | 1,494,000 | 2,395,000 | 2,395,000 | — | 1,425,000 | 107,569 |
| Total current liabilities | US$ in thousands | 798,000 | 820,000 | 750,000 | 716,000 | 733,000 | 683,000 | 682,000 | 709,000 | 795,000 | 795,000 | 693,000 | — | 592,000 | 592,000 | — | — | 9,837 |
| Working capital turnover | 1.78 | 1.95 | 1.75 | 1.56 | 1.18 | 1.25 | 1.31 | 1.34 | 1.31 | 1.17 | 1.12 | 1.27 | 1.02 | 0.76 | — | 0.32 | 0.22 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,378,000K ÷ ($2,697,000K – $798,000K)
= 1.78
Maplebear Inc.'s working capital turnover has shown an increasing trend over the past few periods, indicating an improvement in the company's efficiency in managing its working capital. The working capital turnover ratio measures how effectively a company is utilizing its working capital to generate sales.
In September 2019, the working capital turnover was low at 0.22, but it gradually increased to 1.78 by December 2024. A higher turnover ratio generally suggests that the company is able to generate more sales for each unit of working capital invested.
During the period from September 2021 to March 2024, there was a significant improvement in the working capital turnover, more than doubling from 0.76 to 1.56. This indicates that Maplebear Inc. became more efficient in utilizing its working capital to support its operations and sales growth.
The peak in the working capital turnover was observed at 1.95 on September 30, 2024, suggesting that the company was effectively managing its working capital to drive sales during that period.
Overall, the increasing trend in working capital turnover reflects positively on Maplebear Inc.'s operational efficiency and ability to generate sales with a relatively lower investment in working capital. However, it is essential for the company to maintain this efficiency to support sustainable growth and profitability in the future.
Peer comparison
Dec 31, 2024