EQT Corporation (EQT)

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	6,908,920	8,345,750	9,229,110	10,737,870	10,563,420	10,923,280	10,637,870	9,188,260	7,651,563	5,064,453	3,452,530	2,901,704	3,058,841	2,817,741	3,597,190	4,380,366	4,416,476	4,650,136	4,748,610	4,389,008
Total current assets	US$ in thousands	2,012,980	1,247,240	2,425,570	3,949,550	4,014,440	3,902,470	4,085,630	3,025,930	2,286,770	3,340,900	2,168,660	1,313,700	1,215,450	1,342,150	1,541,800	1,948,040	1,754,860	1,495,220	1,598,090	1,380,040
Total current liabilities	US$ in thousands	2,036,840	2,118,940	2,182,830	2,664,420	3,732,220	6,637,900	7,189,750	7,605,290	5,186,240	7,228,350	3,679,200	1,750,030	1,762,410	1,839,520	1,560,590	1,473,230	1,345,900	1,449,710	1,533,290	2,185,490
Working capital turnover		—	—	38.02	8.36	37.43	—	—	—	—	—	—	—	—	—	—	9.23	10.80	102.18	73.28	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,908,920K ÷ ($2,012,980K – $2,036,840K)
= —

The working capital turnover ratio for EQT Corp experienced fluctuations over the past eight quarters. In Q1 2023, the ratio was 5.32, indicating that the company generated $5.32 in revenue for every $1 of working capital invested. This suggests a moderate efficiency in utilizing working capital to generate sales.

However, in Q2 2023, the ratio significantly improved to 17.79, signaling a notable increase in the company's ability to generate revenue from its working capital. This uptrend indicates a substantial enhancement in working capital efficiency during that quarter, possibly due to more effective management of current assets and liabilities.

The lack of data for some quarters prevents a complete analysis of the trend in the working capital turnover ratio for EQT Corp. However, the notable improvement from Q1 to Q2 2023 highlights a positive shift in the company's operational efficiency and financial management. Further monitoring of this ratio in subsequent quarters would be beneficial to assess the sustainability of this improvement and identify any potential underlying factors contributing to these fluctuations.