CoreCivic Inc (CXW)
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 | 1,896,635 | 1,876,822 | 1,857,328 | 1,850,343 | 1,845,329 | 1,846,029 | 1,853,012 | 1,860,886 | 1,862,616 | 1,863,960 | 1,861,032 | 1,869,102 | 1,905,485 | 1,929,817 | 1,970,073 | 1,987,726 | 1,980,689 | 1,965,073 | 1,919,279 | 1,878,914 |
| Total current assets | US$ in thousands | 474,914 | 419,965 | 353,722 | 355,972 | 513,670 | 529,963 | 505,244 | 680,760 | 627,384 | 729,442 | 491,249 | 753,378 | 717,122 | 593,987 | 668,406 | 659,901 | 435,385 | 380,645 | 392,109 | 355,331 |
| Total current liabilities | US$ in thousands | 297,454 | 304,367 | 273,638 | 271,938 | 450,751 | 473,227 | 474,813 | 363,075 | 340,968 | 387,363 | 316,603 | 385,408 | 313,405 | 317,376 | 293,947 | 353,256 | 368,811 | 714,802 | 671,601 | 346,065 |
| Working capital turnover | 10.69 | 16.24 | 23.19 | 22.02 | 29.33 | 32.54 | 60.89 | 5.86 | 6.50 | 5.45 | 10.66 | 5.08 | 4.72 | 6.98 | 5.26 | 6.48 | 29.75 | — | — | 202.78 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,896,635K ÷ ($474,914K – $297,454K)
= 10.69
Working capital turnover measures how efficiently a company is utilizing its working capital to generate revenue. A higher working capital turnover ratio indicates better efficiency in utilizing current assets to generate sales.
Analyzing the working capital turnover of CoreCivic Inc over the past eight quarters reveals fluctuations in the efficiency of working capital utilization. In Q4 2023, the working capital turnover was 10.69, indicating that for every dollar of working capital, the company generated $10.69 in revenue during the quarter. This represented a decrease from the previous quarter's ratio of 16.24.
The trend in working capital turnover for CoreCivic Inc shows variability, with the ratio reaching its peak in Q2 2022 at 60.89 but dropping significantly in subsequent quarters. The significant decline in Q1 2022 to 5.86 may indicate inefficiencies in working capital management during that period.
Overall, fluctuations in working capital turnover suggest that CoreCivic Inc's efficiency in utilizing working capital to drive revenue has varied over the analyzed period. Further investigation into the underlying factors influencing these fluctuations, such as changes in operating efficiencies or revenue generation, may provide valuable insights into the company's financial performance and management of working capital.
Peer comparison
Dec 31, 2023