Cavco Industries Inc (CVCO)
Working capital turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,794,790 | 2,142,710 | 1,627,160 | 1,108,050 | 1,061,770 |
| Total current assets | US$ in thousands | 851,799 | 804,579 | 744,117 | 651,799 | 516,185 |
| Total current liabilities | US$ in thousands | 273,267 | 293,391 | 294,170 | 237,104 | 172,102 |
| Working capital turnover | 3.10 | 4.19 | 3.62 | 2.67 | 3.09 |
March 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,794,790K ÷ ($851,799K – $273,267K)
= 3.10
The working capital turnover of Cavco Industries Inc has shown fluctuations over the past five years. The ratio has ranged from 2.67 to 4.19, with an average of approximately 3.33. A higher working capital turnover ratio indicates that the company is able to efficiently generate sales revenue using its working capital.
In the most recent year, the working capital turnover ratio decreased to 3.10 from 4.19 in the previous year. This decline may suggest a decrease in the company's efficiency in utilizing its working capital to generate sales.
Overall, Cavco Industries Inc's working capital turnover ratio has shown variability, and further analysis would be needed to understand the underlying factors contributing to these fluctuations.