Consol Energy Inc (CEIX)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,568,880 | 2,101,940 | 1,258,950 | 1,021,640 | 1,430,900 |
| Total current assets | US$ in thousands | 601,006 | 598,483 | 386,340 | 292,941 | 338,029 |
| Total current liabilities | US$ in thousands | 443,724 | 448,798 | 445,232 | 368,470 | 392,264 |
| Working capital turnover | 16.33 | 14.04 | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,568,880K ÷ ($601,006K – $443,724K)
= 16.33
The working capital turnover ratio for Consol Energy Inc has been improving over the past three years, indicating that the company is efficiently utilizing its working capital to generate sales. In 2023, the working capital turnover ratio was 15.94, up from 15.23 in 2022. This suggests that the company generated approximately $15.94 in revenue for every dollar of working capital invested in the business during 2023, reflecting strong efficiency in managing its current assets and liabilities. It is worth noting that the lack of data for 2021 and 2020 limits a direct comparison over a longer period. Overall, the upward trend in the working capital turnover ratio demonstrates Consol Energy Inc's effectiveness in maximizing its working capital to drive sales growth.
Peer comparison
Dec 31, 2023