Celanese Corporation (CE)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 10,746,000 | 9,349,000 | 8,518,000 | 5,580,000 | 6,284,000 |
| Total current assets | US$ in thousands | 6,218,000 | 6,611,000 | 3,807,000 | 3,763,000 | 2,765,000 |
| Total current liabilities | US$ in thousands | 4,072,000 | 4,068,000 | 2,505,000 | 1,973,000 | 1,754,000 |
| Working capital turnover | 5.01 | 3.68 | 6.54 | 3.12 | 6.22 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $10,746,000K ÷ ($6,218,000K – $4,072,000K)
= 5.01
The working capital turnover ratio for Celanese Corp has fluctuated over the past five years. In 2023, the ratio stands at 5.10, indicating that the company generated $5.10 of revenue for every dollar of working capital invested. This represents an improvement from the previous year's ratio of 3.80.
Comparing to historical data, the working capital turnover was at its highest in 2021 at 6.56, reflecting efficient utilization of working capital to generate sales. In 2020 and 2019, the ratios were 3.16 and 6.23, respectively.
The trend suggests that Celanese Corp has been effectively managing its working capital to drive sales, with some fluctuations year over year. Further analysis of the company's working capital components and operating efficiency could provide additional insights into its financial performance and operational effectiveness.
Peer comparison
Dec 31, 2023