Celsius Holdings Inc (CELH)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,318,010 | 653,604 | 314,272 | 130,726 | 75,147 |
| Total current assets | US$ in thousands | 1,204,900 | 917,971 | 262,361 | 93,151 | 51,509 |
| Total current liabilities | US$ in thousands | 276,613 | 161,295 | 93,124 | 26,365 | 26,683 |
| Working capital turnover | 1.42 | 0.86 | 1.86 | 1.96 | 3.03 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,318,010K ÷ ($1,204,900K – $276,613K)
= 1.42
Celsius Holdings Inc's working capital turnover has fluctuated over the past five years. The ratio declined from 3.03 in 2019 to 0.86 in 2022, indicating a significant decrease in the efficiency of converting working capital into revenue during that period. However, there was a notable improvement in 2023 as the ratio rose to 1.42, suggesting a more efficient utilization of working capital to generate revenue compared to the previous year. In 2021 and 2020, the working capital turnover was 1.86 and 1.96 respectively, indicating a similar level of efficiency in utilizing working capital for revenue generation during those years. Overall, the company has experienced varying levels of effectiveness in converting working capital into sales revenue over the past five years, with the most recent data showing a positive trend towards improved efficiency.
Peer comparison
Dec 31, 2023