California Resources Corp (CRC)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,801,000 | 2,707,000 | 1,889,000 | 2,634,000 | 3,064,000 |
| Total current assets | US$ in thousands | 929,000 | 864,000 | 753,000 | 491,000 | 640,000 |
| Total current liabilities | US$ in thousands | 616,000 | 894,000 | 854,000 | 709,000 | 607,000 |
| Working capital turnover | 8.95 | — | — | — | 92.85 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,801,000K ÷ ($929,000K – $616,000K)
= 8.95
The working capital turnover for California Resources Corporation as of December 31, 2023, is 8.95. This indicates that during the year, the company generated $8.95 in revenue for every dollar of working capital invested.
Unfortunately, historical data for 2022 and 2021 is not available for comparison. However, a higher working capital turnover typically signifies that the company efficiently utilizes its working capital to generate sales. It indicates that the company is effectively managing its current assets and liabilities to support revenue generation.
Analyzing the trend of working capital turnover over multiple years can provide insights into the company's operational efficiency and effectiveness in managing its short-term assets and liabilities. Further data points would be necessary to assess the overall financial health and performance of California Resources Corporation.
Peer comparison
Dec 31, 2023