ConocoPhillips (COP)

Working capital turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	54,745,000	57,861,000	78,494,000	45,828,000	18,784,000
Total current assets	US$ in thousands	15,647,000	14,330,000	18,749,000	16,050,000	12,066,000
Total current liabilities	US$ in thousands	12,124,000	10,005,000	12,847,000	12,021,000	5,366,000
Working capital turnover		15.54	13.38	13.30	11.37	2.80

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $54,745,000K ÷ ($15,647,000K – $12,124,000K)
= 15.54

ConocoPhillips' working capital turnover has shown a positive trend over the past five years. The ratio increased from 2.80 in December 31, 2020, to 15.54 in December 31, 2024. This indicates that the company is managing its working capital more efficiently, as it is generating more revenue relative to its level of working capital. The consistent growth in the working capital turnover ratio reflects ConocoPhillips' ability to optimize its operational efficiency and liquidity management. Overall, the increasing trend in working capital turnover suggests that ConocoPhillips has been effectively utilizing its working capital to support its operations and generate higher revenues.