Darling Ingredients Inc (DAR)
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 | 6,537,880 | 6,817,070 | 6,938,130 | 6,823,800 | 6,402,280 | 6,008,080 | 5,446,680 | 4,998,880 | 4,679,450 | 4,377,748 | 4,041,368 | 3,690,927 | 3,499,347 | 3,409,387 | 3,402,572 | 3,369,843 | 3,349,524 | 3,343,226 | 3,314,219 | 3,303,513 |
| Total current assets | US$ in thousands | 1,855,670 | 1,843,000 | 1,875,960 | 1,902,510 | 1,638,100 | 1,562,040 | 1,461,830 | 1,259,030 | 1,089,010 | 1,103,640 | 1,022,580 | 940,767 | 986,994 | 931,174 | 931,051 | 930,060 | 917,288 | 853,681 | 867,138 | 871,175 |
| Total current liabilities | US$ in thousands | 998,137 | 1,033,700 | 1,013,550 | 1,099,020 | 1,068,440 | 1,027,980 | 919,827 | 813,414 | 752,684 | 756,197 | 692,212 | 637,707 | 675,305 | 623,554 | 606,296 | 651,746 | 688,339 | 595,893 | 566,306 | 546,172 |
| Working capital turnover | 7.62 | 8.42 | 8.05 | 8.49 | 11.24 | 11.25 | 10.05 | 11.22 | 13.91 | 12.60 | 12.23 | 12.18 | 11.23 | 11.08 | 10.48 | 12.11 | 14.63 | 12.97 | 11.02 | 10.16 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,537,880K ÷ ($1,855,670K – $998,137K)
= 7.62
The working capital turnover of Darling Ingredients Inc has been relatively stable over the past years. The ratio indicates how efficiently the company is utilizing its working capital to generate sales. A higher turnover value suggests that the company is efficiently managing its working capital to support its operations and generate revenue.
Over the period analyzed, the working capital turnover ranged from 7.62 to 14.63, with an average value of approximately 11.42. The highest turnover was seen in December 2019, indicating strong efficiency in utilizing working capital to generate sales. On the other hand, the lowest turnover was in December 2023, suggesting some decrease in efficiency compared to prior periods.
Overall, the working capital turnover trend reflects effective management of working capital in relation to sales generation, with intermittent fluctuations suggesting potential variations in operational efficiency over time.
Peer comparison
Dec 31, 2023