CSW Industrials, Inc. (CSW)
Working capital turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 915,770 | 878,301 | 858,612 | 839,930 | 815,657 | 792,840 | 777,666 | 773,792 | 761,331 | 757,905 | 735,518 | 700,711 | 665,104 | 626,436 | 586,506 | 540,152 | 489,507 | 419,205 | 384,334 | 378,118 |
| Total current assets | US$ in thousands | 451,032 | 592,861 | 563,463 | 609,497 | 331,219 | 331,410 | 307,508 | 318,647 | 318,680 | 323,056 | 322,337 | 326,285 | 330,930 | 300,147 | 250,718 | 244,872 | 242,672 | 214,553 | 215,823 | 174,858 |
| Total current liabilities | US$ in thousands | 157,896 | 147,202 | 134,715 | 159,450 | 121,485 | 115,836 | 111,127 | 112,702 | 106,445 | 108,039 | 109,376 | 111,881 | 121,814 | 117,402 | 98,426 | 85,714 | 91,727 | 82,748 | 76,759 | 57,410 |
| Working capital turnover | 3.12 | 1.97 | 2.00 | 1.87 | 3.89 | 3.68 | 3.96 | 3.76 | 3.59 | 3.52 | 3.45 | 3.27 | 3.18 | 3.43 | 3.85 | 3.39 | 3.24 | 3.18 | 2.76 | 3.22 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $915,770K ÷ ($451,032K – $157,896K)
= 3.12
The working capital turnover ratio of CSW Industrials, Inc. has experienced fluctuations over the analyzed period from September 30, 2020, through June 30, 2025. During this span, the ratio generally trended upward from a low of 1.87 in September 2024 to a peak of 3.96 in December 2023, suggesting an improvement in the company's efficiency in utilizing its working capital to generate sales.
From September 2020 to March 2022, the ratio demonstrated relative stability with modest increases, ranging from 3.22 to 3.43, indicating consistent efficiency in managing working capital relative to sales. This stability persisted into late 2022, with the ratio reaching up to 3.45 by December 2022, reflecting sustained operational effectiveness.
However, a notable decline appears in the fourth quarter of 2024, where the ratio contracted sharply to 1.87 by September 2024, and persisted through December 2024 and into March 2025, where it hovered around 2.00 and 1.97, respectively. This significant decrease suggests a decline in operational efficiency concerning working capital utilization during this period.
Following this decline, a recovery is observed in mid-2025, with the ratio increasing to 3.12 by June 2025, indicating a partial restoration of operational efficiency.
Overall, the historical data reflects periods of steady or improving working capital turnover until late 2024, after which a sharp decrease indicates increased working capital tied up relative to sales or potentially lower sales efficiency, followed by a partial rebound. This pattern warrants further investigation into underlying operational or market factors influencing this ratio during the latter period.
Peer comparison
Jun 30, 2025