General Motors Company (GM)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 171,842,000 | 156,735,000 | 127,004,000 | 122,485,000 | 137,237,000 |
| Total current assets | US$ in thousands | 101,618,000 | 100,451,000 | 82,103,000 | 80,924,000 | 74,992,000 |
| Total current liabilities | US$ in thousands | 94,445,000 | 91,173,000 | 74,408,000 | 79,910,000 | 84,905,000 |
| Working capital turnover | 23.96 | 16.89 | 16.50 | 120.79 | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $171,842,000K ÷ ($101,618,000K – $94,445,000K)
= 23.96
The working capital turnover of General Motors Company has exhibited fluctuations over the past five years. The ratio increased significantly from 2019 to 2020, reflecting a more efficient management of working capital to generate sales during that period. However, there was a subsequent decrease in 2021, indicating a decrease in the efficiency of utilizing working capital to generate sales. The ratio improved in 2022 and further increased in 2023, indicating a more efficient management of working capital in generating sales during these periods. Overall, the trend suggests that the company has been able to effectively utilize its working capital to drive sales growth, particularly in the more recent years.
Peer comparison
Dec 31, 2023