California Resources Corp (CRC)

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	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	2,634,000	3,102,000	3,249,000	3,145,000
Total current assets	US$ in thousands	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	491,000	510,000	522,000	577,000
Total current liabilities	US$ in thousands	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	709,000	721,000	610,000	689,000
Working capital turnover		8.95	11.73	12.01	14.03	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,801,000K ÷ ($929,000K – $616,000K)
= 8.95

The working capital turnover ratio for California Resources Corporation has shown a declining trend over the past five quarters, starting at 14.03 in Q1 2023 and decreasing to 8.95 in Q4 2023. This indicates that the company is generating less revenue from its working capital in the most recent quarter, which may be a cause for concern. A lower working capital turnover ratio may suggest inefficiencies in managing the company's current assets and liabilities to generate sales. Further analysis and investigation into the company's operational and financial activities are warranted to understand the reasons behind the declining trend in the working capital turnover ratio.