Crescent Energy Co (CRGY)
Working capital turnover
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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (ttm) | US$ in thousands | 2,646,661 | 2,538,498 | 2,346,426 | 2,358,036 | 2,480,668 | 2,718,370 | 3,140,656 | 3,277,012 | 2,947,635 | |||
Total current assets | US$ in thousands | 864,705 | 1,334,340 | 563,765 | 615,652 | 903,114 | 596,936 | 540,041 | 516,739 | 580,476 | 673,046 | 649,080 | 479,618 |
Total current liabilities | US$ in thousands | 929,753 | 712,314 | 748,076 | 750,257 | 880,798 | 672,432 | 786,116 | 893,749 | 1,039,880 | 1,290,580 | 1,233,900 | 616,125 |
Working capital turnover | — | 4.08 | — | — | 111.16 | — | — | — | — |
September 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,646,661K ÷ ($864,705K – $929,753K)
= —
The working capital turnover ratio for Crescent Energy Co has displayed significant variability over the past few quarters. In the most recent quarter ending September 30, 2024, the ratio was not provided. However, in the quarter ending June 30, 2024, the ratio stood at 4.08, indicating that the company was able to turn over its working capital 4.08 times during that period.
There is a notable absence of data for several quarters, including the previous December 31, 2023, and December 31, 2022. The working capital turnover ratio spiked to an exceptionally high value of 111.16 in the quarter ending September 30, 2023, suggesting a significant improvement in the efficiency of utilizing working capital to generate sales.
The inconsistent availability of data makes it challenging to draw continuous trends or comparisons over a more extended period. However, the comparatively high ratios in the available quarters may indicate efficient management of working capital during those periods, while the lack of data for other quarters leaves room for further analysis on the company's working capital management strategy.
Peer comparison
Sep 30, 2024