California Resources Corp (CRC)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,198,000 | 3,047,000 | 2,154,000 | 2,231,000 | 2,801,000 | 2,757,000 | 3,422,000 | 3,578,000 | 2,707,000 | 2,659,000 | 2,122,000 | 1,679,000 | 1,889,000 | 1,407,000 | 1,228,000 | 1,200,000 | 1,410,000 | 1,868,000 | 2,140,000 | 2,517,000 |
| Total current assets | US$ in thousands | 1,024,000 | 872,000 | 1,439,000 | 839,000 | 929,000 | 929,000 | 867,000 | 972,000 | 864,000 | 884,000 | 851,000 | 834,000 | 753,000 | 657,000 | 577,000 | 461,000 | 329,000 | 420,000 | 403,000 | 356,000 |
| Total current liabilities | US$ in thousands | 980,000 | 897,000 | 593,000 | 594,000 | 616,000 | 694,000 | 582,000 | 717,000 | 894,000 | 932,000 | 1,208,000 | 1,205,000 | 854,000 | 957,000 | 886,000 | 622,000 | 473,000 | 1,194,000 | 5,759,000 | 543,000 |
| Working capital turnover | 72.68 | — | 2.55 | 9.11 | 8.95 | 11.73 | 12.01 | 14.03 | — | — | — | — | — | — | — | — | — | — | — | — |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,198,000K ÷ ($1,024,000K – $980,000K)
= 72.68
The working capital turnover ratio for California Resources Corp has shown fluctuations over the periods analyzed. As of March 31, 2023, the company had a working capital turnover of 14.03, indicating that it generated $14.03 of revenue for every dollar of working capital invested during that period. This suggests efficient utilization of working capital to generate sales.
However, the ratio decreased to 12.01 as of June 30, 2023, and further declined to 11.73 by September 30, 2023. This downward trend may imply a slowdown in the company's ability to convert working capital into revenue during these quarters.
By December 31, 2023, the working capital turnover ratio dropped significantly to 8.95, reflecting a potential inefficiency in utilizing working capital to generate sales. The ratio slightly increased to 9.11 by March 31, 2024, but significantly decreased to 2.55 by June 30, 2024, indicating a major decline in the efficiency of working capital utilization.
The working capital turnover ratio experienced a sharp increase to 72.68 by December 31, 2024, which may suggest a positive change in the company's ability to efficiently convert working capital into revenue during that period. However, the absence of data for the subsequent periods limits a more detailed analysis of the trend.
Overall, monitoring the working capital turnover ratio can provide insights into California Resources Corp's effectiveness in managing its working capital to drive sales and revenue generation.
Peer comparison
Dec 31, 2024