Helix Energy Solutions Group Inc (HLX)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,289,730 | 873,100 | 674,728 | 733,555 | 751,909 |
| Total current assets | US$ in thousands | 697,841 | 460,589 | 529,538 | 525,645 | 438,468 |
| Total current liabilities | US$ in thousands | 448,618 | 297,955 | 278,283 | 279,307 | 284,960 |
| Working capital turnover | 5.18 | 5.37 | 2.69 | 2.98 | 4.90 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,289,730K ÷ ($697,841K – $448,618K)
= 5.18
The working capital turnover ratio for Helix Energy Solutions Group Inc has seen fluctuations over the past five years. In 2023, the ratio stands at 5.18, which indicates that the company generated $5.18 in revenue for every $1 of working capital. This represents a slight decrease compared to 2022 when the ratio was 5.37.
The significant increase from 2021 to 2022 suggests improved efficiency in utilizing working capital to generate sales. However, the ratio was notably lower in 2021 at 2.69, indicating a weaker performance in converting working capital into revenue during that period.
In 2020, the ratio was 2.98, slightly lower than 2019 when it was 4.90. The fluctuation in the ratio over these years may indicate varying levels of operational efficiency and effectiveness in managing working capital.
Overall, while the working capital turnover ratio for Helix Energy Solutions Group Inc has shown some volatility, the general trend appears to indicate a reasonable ability to generate sales relative to the level of working capital in recent years.
Peer comparison
Dec 31, 2023