Chord Energy Corp (CHRD)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,865,450 | 4,141,210 | 1,771,930 | 1,895,380 | 2,177,600 |
| Total current assets | US$ in thousands | 1,424,550 | 1,482,510 | 1,615,440 | 437,351 | 554,155 |
| Total current liabilities | US$ in thousands | 1,165,460 | 1,361,330 | 1,225,200 | 602,883 | 611,776 |
| Working capital turnover | 14.92 | 34.17 | 4.54 | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,865,450K ÷ ($1,424,550K – $1,165,460K)
= 14.92
The working capital turnover ratio for Chord Energy Corp has varied significantly over the past three years. In 2023, the ratio stood at 15.04, indicating that the company generated $15.04 in revenue for every dollar of working capital deployed during the year. This signifies a decrease from 2022 when the ratio was 30.09, suggesting that the company was less efficient in utilizing its working capital to generate revenue. Furthermore, in 2021, the ratio was at 4.05, which indicates an improvement in efficiency compared to 2023 but still lower than in 2022.
Overall, the working capital turnover ratio for Chord Energy Corp has been volatile, highlighting fluctuations in the company's ability to generate revenue relative to its working capital investments. It is essential for the company to closely monitor and manage its working capital to ensure optimal efficiency and financial performance in the future.
Peer comparison
Dec 31, 2023