Frontdoor Inc (FTDR)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,780,000 | 1,754,000 | 1,714,000 | 1,678,000 | 1,662,000 | 1,661,000 | 1,648,000 | 1,623,000 | 1,601,000 | 1,585,000 | 1,554,000 | 1,509,000 | 1,474,000 | 1,451,000 | 1,418,000 | 1,389,000 | 1,366,000 | 1,345,000 | 1,315,000 |
| Total current assets | US$ in thousands | 363,000 | 429,000 | 391,000 | 381,000 | 330,000 | 343,000 | 310,000 | 282,000 | 295,000 | 385,000 | 356,000 | 573,000 | 626,000 | 624,000 | 577,000 | 510,000 | 461,000 | 489,000 | 448,000 |
| Total current liabilities | US$ in thousands | 331,000 | 364,000 | 365,000 | 396,000 | 364,000 | 391,000 | 404,000 | 402,000 | 378,000 | 394,000 | 424,000 | 439,000 | 403,000 | 412,000 | 416,000 | 398,000 | 364,000 | 373,000 | 396,000 |
| Working capital turnover | 55.62 | 26.98 | 65.92 | — | — | — | — | — | — | — | — | 11.26 | 6.61 | 6.84 | 8.81 | 12.40 | 14.08 | 11.59 | 25.29 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,780,000K ÷ ($363,000K – $331,000K)
= 55.62
The working capital turnover for Frontdoor Inc. has fluctuated over the past few quarters. In Q4 2023, the working capital turnover ratio was 55.62, indicating that the company generated $55.62 in revenue for every dollar of working capital invested. This represents a significant increase from the previous quarter's ratio of 26.58 in Q3 2023.
In Q2 2023, the working capital turnover ratio improved even further to 63.48, suggesting that the company efficiently utilized its working capital to generate revenue. However, it is worth noting that the data is not available for Q1 2023, indicating a potential gap in the financial reporting or a significant change in the company's operations during that period.
Comparing the latest ratio to the same period in the previous year, Frontdoor Inc. has shown a notable improvement in its working capital turnover performance. Further analysis of the underlying factors influencing this trend would be necessary to assess the company's operational efficiency and financial health accurately.
Peer comparison
Dec 31, 2023