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

Company name
Symbol
Working capital turnover
The Cooper Companies Inc.
COO
4.29
National Vision Holdings Inc
EYE
STAAR Surgical Company
STAA
1.07