Corteva Inc (CTVA)
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 | 16,908,000 | 16,637,000 | 16,901,000 | 16,834,000 | 17,226,000 | 17,344,000 | 17,531,000 | 17,738,000 | 17,455,000 | 17,109,000 | 16,703,000 | 16,078,000 | 15,655,000 | 15,383,000 | 14,875,000 | 14,439,000 | 14,217,000 | 13,993,000 | 14,041,000 | 14,406,000 |
| Total current assets | US$ in thousands | 15,097,000 | 15,649,000 | 15,359,000 | 17,163,000 | 16,260,000 | 16,333,000 | 17,207,000 | 18,329,000 | 16,795,000 | 15,045,000 | 14,764,000 | 15,878,000 | 15,546,000 | 14,146,000 | 14,285,000 | 15,036,000 | 14,768,000 | 14,088,000 | 14,422,000 | 14,679,000 |
| Total current liabilities | US$ in thousands | 10,386,000 | 10,424,000 | 8,953,000 | 11,332,000 | 10,409,000 | 10,348,000 | 10,346,000 | 13,231,000 | 10,744,000 | 8,918,000 | 7,856,000 | 9,653,000 | 9,558,000 | 7,805,000 | 7,252,000 | 8,999,000 | 8,548,000 | 7,734,000 | 7,529,000 | 9,199,000 |
| Working capital turnover | 3.59 | 3.18 | 2.64 | 2.89 | 2.94 | 2.90 | 2.56 | 3.48 | 2.88 | 2.79 | 2.42 | 2.58 | 2.61 | 2.43 | 2.12 | 2.39 | 2.29 | 2.20 | 2.04 | 2.63 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $16,908,000K ÷ ($15,097,000K – $10,386,000K)
= 3.59
The working capital turnover ratio for Corteva Inc has shown some fluctuations over the past few years. The ratio measures the efficiency of the company in utilizing its working capital to generate sales revenue.
From March 31, 2020, to June 30, 2021, the working capital turnover ratio fluctuated between 2.04 and 2.43, indicating a moderate level of efficiency in converting working capital into sales during this period.
However, from September 30, 2021, to December 31, 2024, the working capital turnover ratio exhibited a more significant increase from 2.42 to 3.59. This suggests an improvement in Corteva Inc's efficiency in using its working capital to generate sales revenue. A higher working capital turnover ratio typically indicates that the company is managing its working capital effectively and efficiently.
Overall, Corteva Inc's increasing working capital turnover ratio over the later periods indicates enhanced efficiency in utilizing its working capital to support its sales operations. This trend is generally positive as it reflects improved operational performance and financial management within the company.
Peer comparison
Dec 31, 2024