Crocs Inc (CROX)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,799,360 | 3,421,060 | 2,291,690 | 1,375,710 | 1,219,870 |
| Total current assets | US$ in thousands | 910,704 | 1,025,980 | 666,569 | 492,841 | 425,382 |
| Total current liabilities | US$ in thousands | 698,296 | 641,274 | 388,243 | 291,584 | 257,223 |
| Working capital turnover | 17.89 | 8.89 | 8.23 | 6.84 | 7.25 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,799,360K ÷ ($910,704K – $698,296K)
= 17.89
Crocs Inc's working capital turnover has seen a steady increase over the past five years, indicating the company's improved efficiency in managing its working capital. The ratio has more than doubled from 7.32 in 2019 to 18.65 in 2023. This suggests that the company is generating significant sales revenue relative to its working capital investment. A higher working capital turnover ratio is generally favorable as it signifies that the company is utilizing its current assets effectively to generate sales. Crocs Inc's increasing trend in working capital turnover highlights the company's ability to efficiently utilize its working capital to support its operational activities and drive revenue growth.
Peer comparison
Dec 31, 2023