ConocoPhillips (COP)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 56,141,000 | 59,970,000 | 66,733,000 | 75,543,000 | 78,494,000 | 75,056,000 | 65,369,000 | 53,764,000 | 45,828,000 | 36,285,000 | 29,339,000 | 23,799,000 | 18,784,000 | 21,347,000 | 27,060,000 | 31,424,000 | 36,670,000 | 38,891,000 | 38,963,000 | 39,544,000 |
| Total current assets | US$ in thousands | 14,330,000 | 17,181,000 | 13,501,000 | 16,116,000 | 18,749,000 | 20,453,000 | 18,860,000 | 17,586,000 | 16,050,000 | 20,181,000 | 17,172,000 | 14,614,000 | 12,066,000 | 11,059,000 | 11,053,000 | 13,144,000 | 16,913,000 | 15,217,000 | 15,800,000 | 13,683,000 |
| Total current liabilities | US$ in thousands | 10,005,000 | 10,338,000 | 9,548,000 | 11,553,000 | 12,847,000 | 13,997,000 | 12,216,000 | 11,624,000 | 12,021,000 | 10,449,000 | 8,150,000 | 7,184,000 | 5,366,000 | 4,640,000 | 4,105,000 | 6,075,000 | 7,043,000 | 5,942,000 | 8,996,000 | 7,370,000 |
| Working capital turnover | 12.98 | 8.76 | 16.88 | 16.56 | 13.30 | 11.63 | 9.84 | 9.02 | 11.37 | 3.73 | 3.25 | 3.20 | 2.80 | 3.33 | 3.89 | 4.45 | 3.72 | 4.19 | 5.73 | 6.26 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (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 fluctuations over the past eight quarters. In Q2 2023, the company achieved the highest working capital turnover of 16.88, indicating that Conoco Phillips efficiently used its working capital to generate revenue during that period. This was followed by Q1 2023 and Q4 2023, where the working capital turnover was 16.56 and 12.98, respectively, demonstrating consistent efficiency in utilizing working capital.
On the other hand, Q3 2022 and Q2 2022 recorded the lowest working capital turnover of 9.84 and 9.02, reflecting a lower efficiency in converting working capital into sales during those quarters. Overall, Conoco Phillips has generally maintained a healthy working capital turnover ratio, with occasional variations that may be influenced by seasonal factors or specific operational activities. Monitoring these fluctuations provides valuable insights into the company's management of working capital and its underlying efficiency in generating revenue.
Peer comparison
Dec 31, 2023