Walt Disney Company (DIS)

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	88,935,000	88,898,000	87,807,000	86,981,000	84,415,000	82,722,000	81,106,000	76,624,000	72,988,000	67,418,000	63,591,000	58,348,000	60,760,000	65,388,000	69,799,000	78,282,000	75,181,000
Total current assets	US$ in thousands	25,971,000	32,763,000	30,174,000	28,263,000	26,912,000	29,098,000	31,422,000	31,427,000	32,913,000	33,657,000	33,966,000	32,877,000	34,874,000	35,251,000	41,330,000	33,274,000	27,776,000	28,124,000	31,370,000	34,277,000
Total current liabilities	US$ in thousands	31,033,000	31,139,000	28,234,000	28,056,000	27,070,000	29,073,000	30,704,000	29,601,000	30,037,000	31,077,000	27,413,000	26,642,000	26,546,000	26,628,000	30,917,000	35,473,000	34,797,000	31,341,000	44,593,000	44,376,000
Working capital turnover		—	54.74	45.26	420.20	—	3,308.88	112.96	41.96	25.38	26.13	9.70	9.36	7.30	7.58	6.70	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $88,935,000K ÷ ($25,971,000K – $31,033,000K)
= —

The working capital turnover ratio for Walt Disney Company has shown significant fluctuations over the past few quarters. The ratio ranges from 6.70 to as high as 3,308.88 times, indicating a substantial variability in how efficiently the company is utilizing its working capital.

In particular, the ratio of 3,308.88 for the September 2022 quarter stands out as an anomaly and may be attributed to specific factors or events affecting the company's working capital management during that period. This exceptionally high ratio suggests that Disney was able to generate a substantial amount of revenue relative to its working capital investment in that particular quarter.

On the other hand, the ratios for other quarters, such as March 2021 and June 2021, which are below 10 times, reflect relatively lower turnover rates of working capital. This could indicate potential inefficiencies in managing the company's current assets and liabilities during those periods.

Overall, the fluctuating working capital turnover ratios for Walt Disney Company suggest varying levels of efficiency in converting working capital into revenue over the analyzed time frame. It is essential for the company to closely monitor and manage its working capital to ensure optimal utilization and sustainable operations.