Celanese Corporation (CE)
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 | 10,254,000 | 10,108,000 | 9,713,000 | 9,534,000 | 9,350,000 | 9,417,000 | 9,523,000 | 9,245,000 | 8,517,000 | 7,793,000 | 6,925,000 | 5,920,000 | 5,580,000 | 5,485,000 | 5,659,000 | 6,054,000 | 6,284,000 | 6,548,000 | 6,732,000 | 6,984,000 |
| Total current assets | US$ in thousands | 6,218,000 | 5,887,000 | 6,252,000 | 6,448,000 | 6,611,000 | 13,192,000 | 4,459,000 | 4,200,000 | 3,807,000 | 4,355,000 | 4,061,000 | 3,710,000 | 3,763,000 | 2,771,000 | 2,709,000 | 2,855,000 | 2,765,000 | 2,843,000 | 2,876,000 | 2,884,000 |
| Total current liabilities | US$ in thousands | 4,072,000 | 3,616,000 | 3,922,000 | 3,851,000 | 4,068,000 | 2,788,000 | 2,595,000 | 2,554,000 | 2,505,000 | 1,812,000 | 2,129,000 | 1,935,000 | 1,973,000 | 2,409,000 | 2,262,000 | 1,928,000 | 1,754,000 | 1,533,000 | 1,408,000 | 1,822,000 |
| Working capital turnover | 4.78 | 4.45 | 4.17 | 3.67 | 3.68 | 0.91 | 5.11 | 5.62 | 6.54 | 3.06 | 3.58 | 3.34 | 3.12 | 15.15 | 12.66 | 6.53 | 6.22 | 5.00 | 4.59 | 6.58 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $10,254,000K ÷ ($6,218,000K – $4,072,000K)
= 4.78
The working capital turnover for Celanese Corp has shown fluctuations over the past 8 quarters. In Q4 2023, the working capital turnover was 5.10, indicating that the company generated $5.10 in revenue for every dollar of working capital invested. This represents an improvement compared to the previous quarter where the turnover was 4.72.
The trend over the past year shows a significant increase in working capital efficiency, with Q1 2022 having the lowest turnover of 3.80, followed by a notable improvement in subsequent quarters. Specifically, Q3 2022 had a working capital turnover of 0.92, depicting a temporary decline in efficiency.
Overall, the recent increase in working capital turnover indicates that Celanese Corp is becoming more effective at utilizing its working capital to generate revenue. However, it is important to monitor this ratio in the future to ensure consistent efficiency in managing working capital.
Peer comparison
Dec 31, 2023