Fox Corp Class B (FOX)
Working capital turnover
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 13,995,000 | 13,934,000 | 14,571,000 | 14,954,000 | 14,913,000 | 15,016,000 | 14,351,000 | 14,150,000 | 13,974,000 | 13,546,000 | 13,397,000 | 13,140,000 | 12,909,000 | 12,437,000 | 12,662,000 | 12,353,000 | 12,303,000 | 12,398,000 | 11,710,000 | 11,515,000 |
| Total current assets | US$ in thousands | 7,501,000 | 7,178,000 | 8,501,000 | 7,239,000 | 7,257,000 | 7,723,000 | 8,571,000 | 8,495,000 | 8,281,000 | 7,916,000 | 8,514,000 | 8,875,000 | 8,749,000 | 8,694,000 | 8,440,000 | 8,463,000 | 7,486,000 | 6,744,000 | 6,398,000 | 7,049,000 |
| Total current liabilities | US$ in thousands | 2,952,000 | 2,217,000 | 3,707,000 | 3,589,000 | 3,763,000 | 4,402,000 | 2,543,000 | 2,362,000 | 2,296,000 | 2,121,000 | 2,870,000 | 2,869,000 | 3,002,000 | 2,985,000 | 2,213,000 | 2,012,000 | 1,906,000 | 1,780,000 | 1,816,000 | 1,890,000 |
| Working capital turnover | 3.08 | 2.81 | 3.04 | 4.10 | 4.27 | 4.52 | 2.38 | 2.31 | 2.33 | 2.34 | 2.37 | 2.19 | 2.25 | 2.18 | 2.03 | 1.91 | 2.20 | 2.50 | 2.56 | 2.23 |
June 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $13,995,000K ÷ ($7,501,000K – $2,952,000K)
= 3.08
The working capital turnover ratio for Fox Corp Class B has shown some fluctuations over the past few quarters. The ratio measures how efficiently the company is utilizing its working capital to generate sales revenue.
From December 2019 to June 2020, the working capital turnover ratio remained relatively stable around 2.5 to 2.6. However, there was a notable increase in the ratio in the subsequent quarters, reaching a peak of 4.27 in June 2023. This indicates that Fox Corp was able to generate more sales revenue for each unit of working capital during this period.
Subsequently, the ratio started to decline, reaching 2.81 in March 2024. This suggests that the company's efficiency in utilizing its working capital to generate sales dipped slightly during this time frame.
Overall, the company's working capital turnover ratio has exhibited fluctuations, indicating varying levels of efficiency in managing working capital to generate sales revenue. Further analysis and comparison with industry benchmarks may provide more insights into the company's operational efficiency and financial performance.
Peer comparison
Jun 30, 2024