The Cooper Companies Inc. (COO)
Working capital turnover
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,557,200 | 3,487,900 | 3,390,400 | 3,313,300 | 3,281,000 | 3,229,200 | 3,174,500 | 3,106,000 | 3,000,400 | 2,893,900 | 2,826,900 | 2,641,600 | 2,440,300 | 2,400,800 | 2,410,800 | 2,501,000 | 2,643,200 | 2,636,700 | 2,596,600 | 2,593,900 |
| Total current assets | US$ in thousands | 1,793,900 | 1,704,900 | 1,711,000 | 1,599,300 | 1,577,500 | 1,533,600 | 1,597,700 | 1,738,200 | 1,698,100 | 1,465,300 | 1,474,600 | 1,322,600 | 1,297,400 | 1,274,200 | 1,321,300 | 1,166,200 | 1,149,900 | 1,163,400 | 1,150,800 | 1,136,600 |
| Total current liabilities | US$ in thousands | 964,900 | 969,000 | 993,600 | 949,100 | 915,800 | 1,280,200 | 1,375,700 | 1,648,400 | 1,664,400 | 732,100 | 1,063,200 | 992,700 | 961,300 | 1,004,400 | 1,128,700 | 1,025,300 | 1,068,500 | 1,110,600 | 889,400 | 940,900 |
| Working capital turnover | 4.29 | 4.74 | 4.73 | 5.10 | 4.96 | 12.74 | 14.30 | 34.59 | 89.03 | 3.95 | 6.87 | 8.01 | 7.26 | 8.90 | 12.52 | 17.75 | 32.47 | 49.94 | 9.93 | 13.25 |
January 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,557,200K ÷ ($1,793,900K – $964,900K)
= 4.29
The working capital turnover ratio for Cooper Companies, Inc. has exhibited fluctuations over the past eight quarters. In Q1 2024, the ratio stood at 4.42, indicating that the company generated $4.42 of revenue for every dollar of working capital invested during that period. This was a decrease from the previous quarter (Q4 2023) where the ratio was 4.88.
Looking further back, there was a slight decline in the working capital turnover ratio from Q4 2022 (13.06) to Q1 2023 (5.11), followed by a relatively stable performance in Q2 and Q3 2023. Notably, there was a sharp increase in the ratio in Q2 2022 (34.96), which then further soared in Q3 2022 (14.50).
Overall, the working capital turnover ratio for Cooper Companies, Inc. has displayed variability over the analyzed quarters, with some periods showing a marked efficiency in utilizing working capital to generate revenue, while others indicating a lower level of efficiency in this aspect. It is essential for the company to examine the reasons behind these fluctuations and work towards maintaining a more consistent and optimal level of working capital turnover.
Peer comparison
Jan 31, 2024