Acushnet Holdings Corp (GOLF)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,457,091 | 2,424,883 | 2,397,763 | 2,403,259 | 2,381,995 | 2,416,438 | 2,381,303 | 2,350,539 | 2,270,336 | 2,243,498 | 2,206,881 | 2,173,132 | 2,147,930 | 2,147,858 | 2,109,161 | 1,784,313 | 1,612,169 | 1,559,946 | 1,494,180 | 1,656,396 |
| Total current assets | US$ in thousands | 973,873 | 1,085,450 | 1,093,520 | 1,174,450 | 996,692 | 1,033,520 | 1,151,550 | 1,266,250 | 1,059,080 | 1,083,020 | 1,070,220 | 1,054,940 | 969,176 | 1,047,960 | 1,033,560 | 923,062 | 799,807 | 787,102 | 838,740 | 829,478 |
| Total current liabilities | US$ in thousands | 472,707 | 515,712 | 479,187 | 436,077 | 451,135 | 856,197 | 455,999 | 464,327 | 548,625 | 498,813 | 548,201 | 535,904 | 483,024 | 442,679 | 422,813 | 398,797 | 357,679 | 363,154 | 465,376 | 466,387 |
| Working capital turnover | 4.90 | 4.26 | 3.90 | 3.25 | 4.37 | 13.63 | 3.42 | 2.93 | 4.45 | 3.84 | 4.23 | 4.19 | 4.42 | 3.55 | 3.45 | 3.40 | 3.65 | 3.68 | 4.00 | 4.56 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,457,091K ÷ ($973,873K – $472,707K)
= 4.90
Working capital turnover measures how efficiently a company utilizes its working capital to generate sales. A higher turnover ratio indicates better efficiency in managing working capital.
For Acushnet Holdings Corp, we observe fluctuations in the working capital turnover ratio over the quarters provided in the data. The working capital turnover ratio ranged from a low of 2.93 on March 31, 2023, to a high of 13.63 on September 30, 2023, which is a significant spike.
The company's working capital turnover ratio improved from March 31, 2023, to June 30, 2023, but then experienced a sharp increase by September 30, 2023, followed by a decline. This sudden spike in efficiency could be due to various factors like improved inventory management, faster collection of receivables, or more effective payment of payables during that period.
From a general perspective, the working capital turnover ratio for Acushnet Holdings Corp generally stayed within a range of 2.93 to 4.90 over the quarters provided in the data. This indicates that the company has been relatively efficient in utilizing its working capital to support its sales operations.
It would be advisable to further investigate the reasons behind the fluctuations in the working capital turnover ratio to determine if they are sustainable improvements or if there are areas that need attention to enhance the company's working capital management efficiency.
Peer comparison
Dec 31, 2024