Centene Corp (CNC)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 153,999,000 | 144,547,000 | 125,982,000 | 111,115,000 | 74,639,000 |
| Total current assets | US$ in thousands | 40,756,000 | 30,128,000 | 28,497,000 | 23,393,000 | 20,323,000 |
| Total current liabilities | US$ in thousands | 36,716,000 | 28,464,000 | 25,765,000 | 21,585,000 | 12,932,000 |
| Working capital turnover | 38.12 | 86.87 | 46.11 | 61.46 | 10.10 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $153,999,000K ÷ ($40,756,000K – $36,716,000K)
= 38.12
The working capital turnover ratio of Centene Corp. fluctuated significantly over the past five years, ranging from 10.10 to 86.87.
This ratio measures how efficiently a company is able to generate revenue from its working capital. A higher working capital turnover ratio indicates that the company is efficiently utilizing its working capital to support its operations and generate sales.
The significant increase in the ratio from 2020 to 2022, followed by a substantial decrease in 2023, suggests fluctuations in Centene Corp.'s operational efficiency and management of working capital during these periods.
It is important for Centene Corp. to closely monitor and manage its working capital turnover to ensure optimal utilization of resources and sustained efficiency in generating revenue.
Peer comparison
Dec 31, 2023