Crane NXT Co (CXT)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,391,300 | 3,374,900 | 3,408,000 | 2,936,900 | 3,074,500 |
| Total current assets | US$ in thousands | 644,400 | 623,300 | 1,543,100 | 1,573,700 | 1,499,900 |
| Total current liabilities | US$ in thousands | 334,400 | 631,400 | 789,300 | 1,056,600 | 916,700 |
| Working capital turnover | 4.49 | — | 4.52 | 5.68 | 5.27 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,391,300K ÷ ($644,400K – $334,400K)
= 4.49
The working capital turnover ratio for Crane NXT Co has shown fluctuations over the years. In 2023, the ratio stands at 4.49, indicating that the company generated $4.49 in net sales for every $1 of working capital. This represents a slight decrease from the previous year when the ratio was not available.
Comparing the current ratio to earlier years, we see that in 2022, the ratio was not calculated, while in 2021 and 2020, it was 4.52 and 5.68, respectively. The highest working capital turnover was in 2020 at 5.68, which signifies that the company was more efficient in utilizing its working capital to generate sales during that period.
In contrast, the ratio decreased to 5.27 in 2019, indicating a slight decline in working capital efficiency compared to the following years. Overall, the trend in the working capital turnover ratio for Crane NXT Co suggests some variability in the company's ability to efficiently convert working capital into sales over the analyzed period.
Peer comparison
Dec 31, 2023