Consolidated Communications (CNSL)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,098,700	1,182,490	1,248,400	1,276,540	1,334,130
Total current assets	US$ in thousands	256,155	598,144	427,815	340,661	176,867
Total current liabilities	US$ in thousands	317,245	266,904	285,545	270,470	244,296
Working capital turnover		—	3.57	8.77	18.19	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,098,700K ÷ ($256,155K – $317,245K)
= —

The working capital turnover for Consolidated Communications Holdings Inc has shown a declining trend over the past five years. The ratio was not available for 2023. In 2022, the working capital turnover was 3.60, indicating that the company generated $3.60 in revenue for each dollar of working capital invested.

The ratio significantly increased to 9.01 in 2021, demonstrating a more efficient utilization of working capital to generate revenue. This was further improved in 2020, with a working capital turnover of 18.58, suggesting that the company was able to efficiently convert working capital into revenue at a much higher rate.

It is notable that the working capital turnover ratio was not reported for the years 2019 and 2023, which limits our ability to fully assess the company's performance in those years. Overall, the fluctuating trend in working capital turnover indicates varying degrees of efficiency in utilizing working capital resources to generate revenue for Consolidated Communications Holdings Inc.