CVR Energy Inc (CVI)
Working capital turnover
| Dec 31, 2024 | Sep 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,845,000 | 8,420,000 | 8,823,000 | 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 |
| Total current assets | US$ in thousands | 1,824,000 | 1,408,000 | 1,555,000 | 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 |
| Total current liabilities | US$ in thousands | 1,098,000 | 1,055,000 | 1,043,000 | 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 |
| Working capital turnover | 10.81 | 23.85 | 17.23 | 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 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,845,000K ÷ ($1,824,000K – $1,098,000K)
= 10.81
The working capital turnover ratio of CVR Energy Inc has shown fluctuations over the period analyzed. The ratio provides insight into how efficiently the company is utilizing its working capital to generate sales revenue.
From December 2019 to June 2021, the working capital turnover steadily decreased from 9.39 to 7.08, indicating a decline in the company's ability to efficiently convert working capital into sales. However, there was a significant spike in June 2021, where the ratio jumped to 61.02, signaling a sudden surge in efficiency in utilizing working capital.
In the subsequent quarters, the ratio remained relatively high compared to previous levels, indicating a sustained improvement in working capital turnover. However, in the following periods from September 2022 to December 2024, the ratio fluctuated, showing both decreases and increases, but stayed above the initial levels from 2019.
Overall, the working capital turnover ratio of CVR Energy Inc reflects a mix of fluctuations and improvements in how effectively the company is managing its working capital to generate sales revenue. It is essential for stakeholders to monitor these trends to assess the company's operational efficiency and financial performance.
Peer comparison
Dec 31, 2024