CVR Energy Inc (CVI)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 9,246,000 | 9,724,000 | 9,901,000 | 10,809,000 | 10,896,000 | 10,329,000 | 9,513,000 | 8,152,000 | 7,242,000 | 6,248,000 | 5,370,000 | 4,262,000 | 3,929,000 | 4,379,000 | 4,996,000 | 6,008,000 | 6,364,000 | 6,533,000 | 6,846,000 | 7,074,000 |
| Total current assets | US$ in thousands | 2,179,000 | 1,887,000 | 1,646,000 | 1,637,000 | 1,593,000 | 1,658,000 | 2,119,000 | 1,766,000 | 1,369,000 | 1,304,000 | 1,200,000 | 1,597,000 | 1,402,000 | 1,254,000 | 1,259,000 | 1,396,000 | 1,274,000 | 1,327,000 | 1,157,000 | 1,125,000 |
| Total current liabilities | US$ in thousands | 1,682,000 | 1,311,000 | 1,285,000 | 1,347,000 | 1,439,000 | 1,531,000 | 1,695,000 | 1,552,000 | 1,156,000 | 1,035,000 | 1,112,000 | 995,000 | 659,000 | 457,000 | 369,000 | 504,000 | 596,000 | 590,000 | 482,000 | 580,000 |
| Working capital turnover | 18.60 | 16.88 | 27.43 | 37.27 | 70.75 | 81.33 | 22.44 | 38.09 | 34.00 | 23.23 | 61.02 | 7.08 | 5.29 | 5.49 | 5.61 | 6.74 | 9.39 | 8.86 | 10.14 | 12.98 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $9,246,000K ÷ ($2,179,000K – $1,682,000K)
= 18.60
The working capital turnover of CVR Energy Inc has displayed fluctuations over the past eight quarters. The metric peaked in Q3 2022 at 81.33 and has since been on a declining trend, reaching 18.61 in Q4 2023. This suggests that the company's ability to efficiently utilize its working capital to generate sales has weakened significantly. The sharp decrease from Q3 2023 to Q4 2023 may indicate potential inefficiencies or challenges in managing working capital during the most recent quarter. Further analysis and investigation into the company's operational and financial activities are warranted to determine the underlying reasons for this decline in working capital turnover.
Peer comparison
Dec 31, 2023