The Clorox Company (CLX)
Working capital turnover
| Jun 30, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,104,000 | 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 |
| Total current assets | US$ in thousands | 1,608,000 | 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 |
| Total current liabilities | US$ in thousands | 1,919,000 | 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 |
| Working capital turnover | — | — | — | — | 147.77 | — | — | — | — | — | — | — | — | — | — | — | — | 52.60 | 20.61 | 11.36 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,104,000K ÷ ($1,608,000K – $1,919,000K)
= —
The analysis of The Clorox Company's working capital turnover reveals significant fluctuations over the reported periods. During the fiscal year ending September 30, 2020, the ratio stood at 11.36, indicating a moderate level of efficiency in utilizing working capital to generate sales. This ratio increased notably, reaching 20.61 by the end of 2020, and then sharply rose to 52.60 during the first quarter of 2021, reflecting a substantial improvement in operational efficiency and liquidity management during this period.
However, from the second quarter of 2021 onward, data for the working capital turnover ratio is unavailable for multiple quarters up to the third quarter of 2023; the consecutive periods are marked with an em dash, suggesting that the metric was either not calculated or not reported during this interval. This absence of data could be attributed to changes in reporting practices, alterations in the company's financial presentation, or gaps in internal data tracking.
A notable exception appears in the second quarter of 2024, when the ratio is reported as 147.77. This unusually high figure indicates a dramatic increase in the efficiency of working capital utilization, potentially due to a significant reduction in working capital or a substantial increase in sales relative to working capital at that time.
Overall, the available data portray a period of increasing efficiency from 2020 into early 2021, followed by a prolonged absence of reporting on this ratio, and culminating in a sharp spike in mid-2024. The latter suggests a moment of exceptional operational efficiency, though the reasons behind such a spike would require further qualitative analysis to understand whether it reflects genuine improvements, accounting anomalies, or extraordinary circumstances impacting financial ratios.