National Beverage Corp (FIZZ)
Working capital turnover
| Apr 30, 2025 | Apr 30, 2024 | Apr 27, 2024 | Apr 30, 2023 | Apr 29, 2023 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,201,350 | 1,191,690 | 1,191,690 | 1,172,930 | 1,172,930 |
| Total current assets | US$ in thousands | 406,928 | 536,872 | 536,872 | 366,405 | 366,405 |
| Total current liabilities | US$ in thousands | 140,502 | 137,927 | 137,927 | 144,321 | 144,321 |
| Working capital turnover | 4.51 | 2.99 | 2.99 | 5.28 | 5.28 |
April 30, 2025 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,201,350K ÷ ($406,928K – $140,502K)
= 4.51
The working capital turnover ratio for National Beverage Corp demonstrates notable fluctuations over the analyzed period. As of April 29 and April 30, 2023, the ratio stood at 5.28, indicating a relatively high efficiency in utilizing working capital to generate sales during that timeframe. This ratio remained unchanged at 5.28 through April 27 and April 30, 2024, suggesting stability in operational efficiency over that one-year span.
However, a significant decline in the ratio is observed by April 30, 2024, decreasing to 2.99. This decline reflects a reduced efficiency in asset utilization, potentially caused by an increase in working capital that was not proportionally matched by sales, or by a decrease in sales relative to working capital. The ratio then increases again by April 30, 2025, reaching 4.51, indicating a partial recovery in the company's ability to efficiently generate sales from its working capital.
Overall, the trend in the working capital turnover ratio suggests variability in operational efficiency, with the most recent figure on April 30, 2025, showing an improvement compared to the previous year's low. The fluctuations warrant attention to underlying factors such as changes in sales performance, inventory management, accounts receivable, or accounts payable practices.
Peer comparison
Apr 30, 2025