Coca-Cola Consolidated Inc. (COKE)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,644,960 | 6,166,200 | 5,518,710 | 4,951,170 | 4,774,060 |
| Total current assets | US$ in thousands | 1,705,130 | 1,245,800 | 1,076,660 | 851,237 | 830,276 |
| Total current liabilities | US$ in thousands | 1,091,330 | 905,156 | 834,856 | 647,060 | 622,195 |
| Working capital turnover | 10.83 | 18.10 | 22.82 | 24.25 | 22.94 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,644,960K ÷ ($1,705,130K – $1,091,330K)
= 10.83
The working capital turnover for Coca-Cola Consolidated Inc has shown a declining trend over the past five years. The ratio decreased from 23.20 in 2019 to 10.84 in 2023. This indicates that the company's efficiency in utilizing its working capital to generate sales has decreased over the years. A lower working capital turnover ratio may suggest that the company is finding it challenging to efficiently manage its working capital and may lead to potential liquidity concerns. Further investigation into the company's working capital management practices and operational efficiency is recommended to address the declining trend in the working capital turnover ratio.
Peer comparison
Dec 31, 2023