Comfort Systems USA Inc (FIX)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,027,480 | 5,206,760 | 4,140,360 | 3,073,640 | 2,856,660 |
| Total current assets | US$ in thousands | 2,790,240 | 1,911,100 | 1,307,670 | 1,027,320 | 811,852 |
| Total current liabilities | US$ in thousands | 2,582,770 | 1,721,200 | 1,170,800 | 836,554 | 692,904 |
| Working capital turnover | 33.87 | 27.42 | 30.25 | 16.11 | 24.02 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $7,027,480K ÷ ($2,790,240K – $2,582,770K)
= 33.87
Comfort Systems USA Inc's working capital turnover has exhibited fluctuations over the past five years. The ratio stood at 24.02 in December 31, 2020, indicating that the company generated $24.02 in revenue for every dollar of working capital invested during that period. However, it decreased to 16.11 by December 31, 2021, suggesting a decline in efficiency in utilizing working capital.
Subsequently, the ratio rebounded to 30.25 by December 31, 2022, displaying a significant improvement in working capital management. This trend continued as the ratio remained relatively high at 27.42 on December 31, 2023, indicating consistent operational efficiency.
By December 31, 2024, the working capital turnover peaked at 33.87, signaling that the company generated $33.87 in revenue for each dollar of working capital, demonstrating strong efficiency in utilizing its resources effectively to drive revenue growth.
Overall, the varying levels of working capital turnover suggest that Comfort Systems USA Inc has experienced fluctuations in its ability to generate revenue relative to its working capital investment over the past five years.
Peer comparison
Dec 31, 2024