ConocoPhillips (COP)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 56,141,000 | 78,494,000 | 45,828,000 | 18,784,000 | 36,670,000 |
| Total current assets | US$ in thousands | 14,330,000 | 18,749,000 | 16,050,000 | 12,066,000 | 16,913,000 |
| Total current liabilities | US$ in thousands | 10,005,000 | 12,847,000 | 12,021,000 | 5,366,000 | 7,043,000 |
| Working capital turnover | 12.98 | 13.30 | 11.37 | 2.80 | 3.72 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $56,141,000K ÷ ($14,330,000K – $10,005,000K)
= 12.98
The working capital turnover of Conoco Phillips has shown variability over the past five years, ranging from 2.80 in 2020 to 13.30 in 2022. A higher working capital turnover ratio indicates that the company is utilizing its working capital more effectively to generate revenue.
The company's working capital turnover decreased in 2021 compared to 2020, but significantly improved in 2022. This improvement suggests that Conoco Phillips was able to generate more revenue relative to its working capital investment in 2022.
Overall, the trend in working capital turnover indicates that Conoco Phillips has been able to efficiently manage its working capital to support its operations and generate revenue in recent years.
Peer comparison
Dec 31, 2023