The Clorox Company (CLX)
Working capital turnover
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,019,000 | 7,165,000 | 7,469,000 | 7,093,000 | 7,209,000 | 7,310,000 | 7,035,000 | 7,389,000 | 7,171,000 | 7,065,000 | 7,041,000 | 7,107,000 | 7,108,000 | 7,080,000 | 7,231,000 | 7,341,000 | 7,522,000 | 7,524,000 | 7,131,000 | 6,721,000 |
| Total current assets | US$ in thousands | 1,590,000 | 1,632,000 | 1,576,000 | 1,622,000 | 1,661,000 | 1,804,000 | 1,911,000 | 1,828,000 | 1,745,000 | 1,622,000 | 1,763,000 | 1,725,000 | 1,869,000 | 1,741,000 | 1,820,000 | 1,829,000 | 1,962,000 | 2,103,000 | 2,144,000 | 2,020,000 |
| Total current liabilities | US$ in thousands | 2,155,000 | 1,730,000 | 1,579,000 | 1,574,000 | 1,846,000 | 2,022,000 | 2,228,000 | 1,917,000 | 1,996,000 | 1,878,000 | 2,010,000 | 1,784,000 | 2,643,000 | 2,596,000 | 2,639,000 | 2,056,000 | 1,819,000 | 1,738,000 | 1,516,000 | 1,418,000 |
| Working capital turnover | — | — | — | 147.77 | — | — | — | — | — | — | — | — | — | — | — | — | 52.60 | 20.61 | 11.36 | 11.16 |
March 31, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,019,000K ÷ ($1,590,000K – $2,155,000K)
= —
The working capital turnover ratio of The Clorox Company exhibited notable fluctuations over the analyzed period. During the fiscal year ending June 30, 2020, the ratio stood at 11.16, indicating the company's modest efficiency in generating sales relative to its working capital. This ratio experienced a slight increase by September 30, 2020, reaching 11.36, suggesting a marginal improvement in operational efficiency during that quarter.
A significant upward trend emerged by December 31, 2020, with the ratio escalating to 20.61, reflecting enhanced utilization of working capital to support sales activities. The most pronounced shift occurred by March 31, 2021, when the ratio surged to 52.60, signaling a substantial increase in sales relative to working capital. This peak indicates a period of heightened efficiency or perhaps a reduction in working capital requirements, enabling the company to generate more sales per dollar of working capital.
Subsequent periods from June 2021 through March 2022 show a complete absence of data, rendering analysis for that interval unattainable. Similarly, missing data persists through the rest of 2022 into 2023, preventing assessment of the company's working capital efficiency during that time.
A notable exception occurs on June 30, 2024, when the ratio dramatically rises to 147.77. This extraordinary increase suggests an exceptional enhancement in sales efficiency relative to working capital, possibly due to strategic operational changes, restructuring, or a significant shift in working capital management. However, without additional context, it remains difficult to pinpoint the exact cause of this spike.
Overall, the data reveals periods of steady or modest efficiency, punctuated by a dramatic peak in June 2024. The absence of data across several periods impedes a continuous trend analysis but indicates that at the end of the observed timeline, the company achieved a remarkably high working capital turnover, signifying an optimized utilization of working capital in relation to sales.