Green Brick Partners Inc (GRBK)

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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	1,777,710	1,758,417	1,747,383	1,816,238	1,757,793	1,778,955	1,713,351	1,562,013	1,402,876	1,204,725	1,138,206	997,233	976,021	952,043	885,626	836,299	791,660	746,658	689,306	663,112
Total current assets	US$ in thousands	179,756	223,453	209,595	177,271	76,588	48,203	66,765	66,083	78,696	21,561	33,517	28,688	19,479	40,269	43,162	105,860	33,269	35,123	34,383	23,873
Total current liabilities	US$ in thousands	195,150	212,730	2,214	2,453	17,395	42,902	34,662	19,421	738	122,717	130,605	3,809	106,687	93,489	143,875	242,758	164,642	164,792	232,657	206,522
Working capital turnover		—	163.99	8.43	10.39	29.70	335.59	53.37	33.48	18.00	—	—	40.08	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,777,710K ÷ ($179,756K – $195,150K)
= —

Working capital turnover measures how efficiently a company utilizes its working capital to generate revenue. A higher working capital turnover indicates better efficiency in using its current assets to support sales.

Looking at the data for Green Brick Partners Inc, we observe fluctuations in the working capital turnover over the past 8 quarters. In Q1 2023, the working capital turnover was 1.33, indicating that the company generated $1.33 in revenue for each dollar of working capital invested. This represents a decrease from the previous quarter where the ratio was 1.22 in Q2 2023.

The trend in working capital turnover for Green Brick Partners Inc shows some variability, with the ratio ranging from 1.16 to 1.42 over the past two years. However, it is worth noting that the company has generally maintained a working capital turnover above 1, which suggests efficient management of its working capital.

Overall, the analysis of Green Brick Partners Inc's working capital turnover indicates that the company has been effectively utilizing its current assets to support its sales operations. However, it is essential for the company to monitor and manage its working capital efficiently to sustain its operational efficiency and profitability in the long term.