Coca-Cola Consolidated Inc. (COKE)
Working capital turnover
| 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 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 6,899,720 | 6,784,180 | 6,730,960 | 6,673,850 | 6,653,860 | 6,595,700 | 6,511,860 | 6,368,250 | 6,200,970 | 6,030,510 | 5,859,350 | 5,697,220 | 5,562,720 | 5,439,020 | 5,310,070 | 5,104,200 | 5,007,360 | 4,907,670 | 4,850,220 | 4,896,660 |
| Total current assets | US$ in thousands | 2,547,300 | 2,571,130 | 3,036,340 | 1,714,850 | 1,705,130 | 1,676,480 | 1,548,010 | 1,353,630 | 1,245,800 | 1,230,270 | 1,213,200 | 1,051,220 | 1,076,660 | 1,071,620 | 926,869 | 926,848 | 851,237 | 976,898 | 900,111 | 903,485 |
| Total current liabilities | US$ in thousands | 1,313,170 | 1,040,860 | 1,539,610 | 917,876 | 1,091,330 | 907,833 | 891,982 | 812,575 | 905,156 | 876,695 | 977,433 | 894,071 | 834,856 | 768,296 | 743,952 | 683,907 | 647,060 | 683,990 | 634,230 | 607,990 |
| Working capital turnover | 5.59 | 4.43 | 4.50 | 8.37 | 10.84 | 8.58 | 9.93 | 11.77 | 18.20 | 17.06 | 24.85 | 36.25 | 23.01 | 17.93 | 29.03 | 21.01 | 24.52 | 16.75 | 18.24 | 16.57 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,899,720K ÷ ($2,547,300K – $1,313,170K)
= 5.59
The working capital turnover ratio measures the efficiency of a company in managing its working capital to generate sales revenue. A higher ratio indicates that the company is effectively utilizing its working capital.
Looking at the data provided for Coca-Cola Consolidated Inc., we can see fluctuations in the working capital turnover ratio over the quarters reported. The ratio was relatively stable in the range of 15 to 25 from March 2020 to June 2022, with some peaks and dips. Notably, there was a significant increase in the ratio in March 2022, reaching 36.25, which suggests improved efficiency in utilizing working capital to generate sales revenue.
However, starting from March 2023, the working capital turnover ratio began to decline steadily, falling below 10 by the end of December 2024. This decreasing trend indicates a potential inefficiency in managing working capital to support sales operations during this period.
Overall, it is important for Coca-Cola Consolidated Inc. to closely monitor and improve its working capital management practices to ensure optimal efficiency in utilizing its resources to drive sales growth and profitability in the future.
Peer comparison
Dec 31, 2024