Coca-Cola Consolidated Inc. (COKE)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,899,720 | 6,653,860 | 6,200,960 | 5,562,710 | 5,007,360 |
| Total current assets | US$ in thousands | 2,547,300 | 1,705,130 | 1,245,800 | 1,076,660 | 851,237 |
| Total current liabilities | US$ in thousands | 1,313,170 | 1,091,330 | 905,156 | 834,856 | 647,060 |
| Working capital turnover | 5.59 | 10.84 | 18.20 | 23.01 | 24.52 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,899,720K ÷ ($2,547,300K – $1,313,170K)
= 5.59
The working capital turnover of Coca-Cola Consolidated Inc. has exhibited a declining trend over the five-year period from December 31, 2020, to December 31, 2024. The ratio decreased from 24.52 in 2020 to 23.01 in 2021, and further decreased to 18.20 in 2022. Subsequently, there was a significant drop in 2023 to 10.84, followed by a notable decrease to 5.59 in 2024. This decreasing trend indicates that the company's efficiency in utilizing its working capital to generate sales revenue has been progressively weakening over the years. Such a significant decline may raise concerns about the company's ability to efficiently manage its working capital and optimize its operational performance. Further analysis and investigation into the factors influencing this downward trend are warranted to address potential inefficiencies and improve the company's financial health.
Peer comparison
Dec 31, 2024