Comfort Systems USA Inc (FIX)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,206,760 | 4,140,360 | 3,073,640 | 2,856,660 | 2,615,280 |
| Total current assets | US$ in thousands | 1,911,100 | 1,307,670 | 1,027,320 | 811,852 | 790,184 |
| Total current liabilities | US$ in thousands | 1,721,200 | 1,170,800 | 836,554 | 692,904 | 607,997 |
| Working capital turnover | 27.42 | 30.25 | 16.11 | 24.02 | 14.35 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $5,206,760K ÷ ($1,911,100K – $1,721,200K)
= 27.42
The working capital turnover for Comfort Systems USA, Inc. has fluctuated over the past five years. In 2023, the working capital turnover was 27.42, showing a lower efficiency in utilizing working capital compared to the previous year. Despite this decrease, the company's working capital turnover remains relatively high, indicating the company's ability to efficiently manage its working capital to generate revenue. The working capital turnover ratio measures how effectively the company is using its working capital to support sales growth, with a higher ratio generally considered favorable. It is important for Comfort Systems USA, Inc. to monitor and manage its working capital effectively to sustain its operations and growth in the long term.
Peer comparison
Dec 31, 2023