CoreCivic Inc (CXW)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,896,640 | 1,845,330 | 1,862,620 | 1,905,480 | 1,980,690 |
| Total current assets | US$ in thousands | 474,914 | 513,670 | 627,384 | 717,122 | 435,385 |
| Total current liabilities | US$ in thousands | 297,454 | 450,751 | 340,968 | 313,405 | 368,811 |
| Working capital turnover | 10.69 | 29.33 | 6.50 | 4.72 | 29.75 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,896,640K ÷ ($474,914K – $297,454K)
= 10.69
CoreCivic Inc's working capital turnover has fluctuated significantly over the past five years. The ratio has ranged from a low of 4.72 in 2020 to a high of 29.75 in 2019, indicating varying efficiencies in utilizing its working capital.
In 2021, the working capital turnover decreased to 6.50, suggesting a decrease in the company's ability to generate revenue using its current assets. However, the ratio improved in 2022 to 29.33, indicating a substantial increase in efficiency in converting working capital into revenue.
By 2023, the working capital turnover further increased to 10.69, which implies that CoreCivic Inc was able to generate revenue more efficiently compared to the previous year. Overall, the fluctuating trend in working capital turnover reflects the company's changing operational efficiency and effectiveness in managing its working capital resources.
Peer comparison
Dec 31, 2023