National Vision Holdings Inc (EYE)

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 2,127,386 2,090,382 2,057,053 2,041,121 2,006,691 2,015,422 2,034,012 2,073,788 2,080,159 2,085,883 2,040,676 1,734,821 1,662,479 1,580,489 1,520,846 1,697,577 1,687,763 1,641,922 1,606,635 1,562,202
Total current assets US$ in thousands 396,670 500,062 494,287 486,479 473,836 477,063 480,470 532,594 514,576 646,387 608,363 656,950 566,650 555,435 453,122 441,217 234,639 278,649 270,894 270,089
Total current liabilities US$ in thousands 397,700 373,528 363,233 361,763 344,264 336,625 353,791 345,407 343,803 348,836 370,483 359,828 328,680 356,049 311,942 287,465 273,179 303,898 288,279 297,669
Working capital turnover 16.52 15.70 16.37 15.49 14.35 16.06 11.08 12.18 7.01 8.58 5.84 6.99 7.93 10.77 11.04

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,127,386K ÷ ($396,670K – $397,700K)
= —

The working capital turnover of National Vision Holdings Inc has shown fluctuations over the periods presented, ranging from a low of 5.84 to a high of 16.52. The metric indicates how efficiently the company is utilizing its working capital to generate revenue.

A higher working capital turnover ratio suggests that the company is effectively using its working capital to support sales, which is generally a positive sign. Conversely, a lower ratio may indicate inefficiency or overinvestment in working capital.

In this case, the trend shows some volatility, with fluctuations in the ratio over time. It peaked at 16.52 in December 2023 and saw a gradual increase from March 2022 onwards. There was a significant dip in performance in the March 2022 quarter compared to the previous periods.

Overall, a more consistent and increasing trend in working capital turnover would be beneficial for the company, as it would indicate improved efficiency in managing its working capital to drive sales.


Peer comparison

Dec 31, 2023

Company name
Symbol
Working capital turnover
National Vision Holdings Inc
EYE
STAAR Surgical Company
STAA
1.07
The Cooper Companies Inc.
COO
4.29