California Resources Corp (CRC)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,198,000 | 2,801,000 | 2,707,000 | 1,889,000 | 2,634,000 |
| Total current assets | US$ in thousands | 1,024,000 | 929,000 | 864,000 | 753,000 | 491,000 |
| Total current liabilities | US$ in thousands | 980,000 | 616,000 | 894,000 | 854,000 | 709,000 |
| Working capital turnover | 72.68 | 8.95 | — | — | — |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,198,000K ÷ ($1,024,000K – $980,000K)
= 72.68
Based on the data provided, the working capital turnover for California Resources Corp experienced significant fluctuations over the years. The company reported a working capital turnover of N/A for the years 2019, 2021, and 2022. However, there was a substantial increase in the working capital turnover ratio to 8.95 in 2023 and a remarkable surge to 72.68 in 2024.
A working capital turnover ratio of 8.95 in 2023 suggests that the company efficiently utilized its working capital to generate sales during that period. The sharp rise to 72.68 in 2024 indicates a further enhancement in the company's ability to generate revenue relative to its working capital.
Overall, the surge in the working capital turnover ratio signifies improved efficiency in managing the company's working capital to support its operational activities and revenue generation in the later years under review.
Peer comparison
Dec 31, 2024