Curtiss-Wright Corporation (CW)
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 | 3,762,156 | 3,695,656 | 3,621,064 | 3,540,669 | 3,458,362 | 3,374,952 | 3,281,168 | 3,186,129 | 3,114,730 | 3,042,690 | 3,032,767 | 3,044,905 | 3,082,503 | 2,507,617 | 2,458,612 | 2,387,164 | 2,391,336 | 2,378,663 | 2,421,929 | 2,510,878 |
| Total current assets | US$ in thousands | 1,849,590 | 1,952,080 | 1,835,880 | 1,737,220 | 1,717,080 | 1,545,120 | 1,523,560 | 1,446,260 | 1,516,010 | 1,414,680 | 1,438,420 | 1,309,880 | 1,307,810 | 1,423,810 | 1,401,390 | 1,286,740 | 1,300,820 | 1,580,750 | 1,267,210 | 1,282,940 |
| Total current liabilities | US$ in thousands | 1,095,950 | 986,655 | 896,516 | 858,275 | 806,544 | 775,379 | 720,927 | 672,190 | 981,045 | 840,364 | 1,059,210 | 800,251 | 734,867 | 765,143 | 774,472 | 734,802 | 810,377 | 665,834 | 661,978 | 629,057 |
| Working capital turnover | 4.99 | 3.83 | 3.85 | 4.03 | 3.80 | 4.38 | 4.09 | 4.12 | 5.82 | 5.30 | 8.00 | 5.97 | 5.38 | 3.81 | 3.92 | 4.33 | 4.88 | 2.60 | 4.00 | 3.84 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,762,156K ÷ ($1,849,590K – $1,095,950K)
= 4.99
Working capital turnover is a financial ratio that measures a company's efficiency in managing its working capital to generate sales revenue. A higher turnover ratio indicates that the company is effectively using its working capital to support sales.
Based on the data provided for Curtiss-Wright Corporation, we observe fluctuations in the working capital turnover ratio over the examined period. The ratio ranged from 2.60 to 8.00, indicating varying levels of efficiency in converting working capital into sales.
In analyzing the trend, we note that the working capital turnover ratio generally increased from September 2020 to June 2022, peaking at 8.00 in June 2022, reflecting improved efficiency in utilizing working capital to drive sales. Subsequently, there was a decline in the ratio, but it remained relatively stable around 4.00 to 5.00 from September 2022 to December 2024.
Overall, the trend suggests that Curtiss-Wright Corporation has shown fluctuations in its working capital turnover, with periods of increased efficiency followed by relative stability. Further investigation into the company's working capital management practices and sales strategies could provide insights into the factors influencing these fluctuations.
Peer comparison
Dec 31, 2024