CDW Corp (CDW)
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 | 21,149,400 | 21,563,100 | 22,145,100 | 22,665,300 | 23,513,000 | 23,627,600 | 22,738,300 | 21,761,100 | 20,669,900 | 20,132,600 | 19,585,200 | 18,800,300 | 18,349,700 | 17,930,400 | 18,079,600 | 18,343,000 | 17,911,300 | 17,449,200 | 16,920,400 | 16,479,900 |
| Total current assets | US$ in thousands | 6,705,000 | 6,458,400 | 6,488,000 | 6,279,900 | 6,564,000 | 6,895,200 | 7,039,800 | 6,870,800 | 6,478,100 | 5,292,200 | 5,421,600 | 5,469,800 | 5,953,500 | 5,759,600 | 5,235,800 | 4,665,800 | 4,334,100 | 4,295,300 | 4,425,300 | 4,132,500 |
| Total current liabilities | US$ in thousands | 5,442,000 | 4,782,100 | 4,997,300 | 4,777,900 | 4,947,100 | 5,358,800 | 5,415,600 | 5,464,600 | 5,096,000 | 3,833,200 | 3,770,100 | 3,709,300 | 3,898,300 | 3,836,600 | 3,561,500 | 3,647,200 | 3,491,400 | 3,241,000 | 3,460,300 | 3,215,000 |
| Working capital turnover | 16.75 | 12.86 | 14.86 | 15.09 | 14.54 | 15.38 | 14.00 | 15.48 | 14.96 | 13.80 | 11.86 | 10.68 | 8.93 | 9.32 | 10.80 | 18.01 | 21.25 | 16.55 | 17.53 | 17.96 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $21,149,400K ÷ ($6,705,000K – $5,442,000K)
= 16.75
CDW Corp's working capital turnover has shown variations over the past eight quarters, ranging from 13.00 to 16.92. The highest turnover was observed in Q4 2023, indicating that the company efficiently utilized its working capital to generate sales revenue during that period. In contrast, the lowest turnover was recorded in Q3 2022. Overall, the average working capital turnover for the period under review is 15.01, suggesting that, on average, CDW Corp generated $15.01 in sales revenue for every dollar of working capital invested. This metric reflects the company's ability to efficiently manage its working capital to support its operational activities and revenue generation.
Peer comparison
Dec 31, 2023