Fresh Del Monte Produce Inc (FDP)
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 | 4,320,700 | 4,352,100 | 4,402,500 | 4,433,900 | 4,442,300 | 4,419,600 | 4,370,900 | 4,300,600 | 4,252,000 | 4,237,000 | 4,221,900 | 4,172,600 | 4,202,300 | 4,225,200 | 4,305,700 | 4,452,800 | 4,489,000 | 4,509,700 | 4,509,000 | 4,542,000 |
| Total current assets | US$ in thousands | 1,144,300 | 1,165,400 | 1,177,500 | 1,245,900 | 1,241,400 | 1,193,200 | 1,145,100 | 1,218,000 | 1,096,400 | 1,046,600 | 1,032,000 | 1,099,400 | 1,012,300 | 990,000 | 1,003,600 | 1,091,900 | 1,051,500 | 1,048,800 | 1,094,700 | 1,189,300 |
| Total current liabilities | US$ in thousands | 540,600 | 577,700 | 598,200 | 603,000 | 607,000 | 634,700 | 663,000 | 676,300 | 629,200 | 588,600 | 563,300 | 598,700 | 554,800 | 549,200 | 551,500 | 592,800 | 562,900 | 538,800 | 1,200,400 | 620,700 |
| Working capital turnover | 7.16 | 7.41 | 7.60 | 6.90 | 7.00 | 7.91 | 9.07 | 7.94 | 9.10 | 9.25 | 9.01 | 8.33 | 9.19 | 9.59 | 9.52 | 8.92 | 9.19 | 8.84 | — | 7.99 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,320,700K ÷ ($1,144,300K – $540,600K)
= 7.16
The working capital turnover ratio for Fresh Del Monte Produce Inc has exhibited fluctuations over the past few quarters, ranging from 6.90 to 9.25. A higher working capital turnover ratio generally indicates that the company is efficient in managing its working capital to generate sales.
The trend observed indicates that the company's efficiency in utilizing its working capital to generate sales improved over the quarters up until Jun 30, 2022, where the ratio peaked at 9.59. However, there was a slight decline in efficiency in the subsequent quarters, with the ratio ranging between 7.00 and 7.60.
It is important for the company to closely monitor this ratio to ensure optimal utilization of its working capital to support sales growth and operations effectively. Any significant deviations in the ratio could signify changes in the company's working capital management efficiency and should be further analyzed to understand the underlying factors affecting the ratio.
Peer comparison
Dec 31, 2023