Haynes International Inc (HAYN)
Working capital turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 581,578 | 487,791 | 336,228 | 379,029 | 488,561 |
| Total current assets | US$ in thousands | 539,166 | 464,422 | 361,606 | 351,535 | 371,873 |
| Total current liabilities | US$ in thousands | 76,789 | 80,879 | 74,213 | 38,215 | 60,080 |
| Working capital turnover | 1.26 | 1.27 | 1.17 | 1.21 | 1.57 |
September 30, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $581,578K ÷ ($539,166K – $76,789K)
= 1.26
The working capital turnover for Haynes International Inc. has fluctuated over the last five years, ranging from 1.17 to 1.57. This ratio measures the efficiency of the company in using its working capital to generate sales revenue. A higher working capital turnover indicates that the company is effectively using its working capital to support sales growth, while a lower ratio may signify inefficiencies in managing working capital. The fact that the working capital turnover remained relatively stable during 2020 and 2023 suggests a consistent level of efficiency in utilizing working capital to generate sales. However, it is essential to delve deeper into the company's financial statements and industry benchmarks to gain a more comprehensive understanding of its working capital management.
Peer comparison
Sep 30, 2023