Helix Energy Solutions Group Inc (HLX)

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	1,289,728	1,242,387	1,119,264	973,059	873,100	753,940	662,109	661,438	674,728	665,969	678,743	715,949	733,555	744,407	763,526	766,107	751,909	739,516	739,482	742,379
Total current assets	US$ in thousands	697,841	554,977	512,010	449,356	460,589	476,118	485,404	503,730	529,538	507,977	519,631	488,937	525,645	521,285	478,253	430,600	438,468	512,346	489,937	450,643
Total current liabilities	US$ in thousands	448,618	390,275	382,712	288,033	297,955	330,475	232,726	256,985	278,283	258,278	274,984	218,433	279,307	276,538	286,721	279,552	284,960	312,412	332,629	248,820
Working capital turnover		5.17	7.54	8.66	6.03	5.37	5.18	2.62	2.68	2.69	2.67	2.77	2.65	2.98	3.04	3.99	5.07	4.90	3.70	4.70	3.68

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,289,728K ÷ ($697,841K – $448,618K)
= 5.17

The working capital turnover of Helix Energy Solutions Group Inc has shown variability over the past eight quarters. The ratio has ranged from a low of 2.62 in Q2 2022 to a high of 8.66 in Q2 2023. Overall, there is an increasing trend in the working capital turnover ratio from Q1 2022 to Q3 2023, indicating that the company is becoming more efficient in managing its working capital to generate revenue.

A high working capital turnover ratio suggests that the company is effectively utilizing its working capital to support operations and generate sales. On the other hand, a low ratio may indicate inefficiencies or excessive levels of working capital that are not being optimized.

It is important for Helix Energy Solutions Group Inc to continue monitoring and improving its working capital turnover ratio to ensure efficient management of its resources and support sustainable growth in the future.