Helix Energy Solutions Group Inc (HLX)

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 1,358,560 1,338,584 1,391,835 1,335,855 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
Total current assets US$ in thousands 709,682 693,937 601,369 584,176 661,800 554,977 512,010 449,356 460,589 476,118 485,404 503,730 529,538 507,977 519,631 488,937 525,645 521,285 478,253 430,600
Total current liabilities US$ in thousands 304,416 303,219 300,174 348,029 448,618 390,275 382,712 288,033 297,955 330,475 232,726 256,985 278,283 258,278 274,984 218,433 279,307 276,538 286,721 279,552
Working capital turnover 3.35 3.43 4.62 5.66 6.05 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

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,358,560K ÷ ($709,682K – $304,416K)
= 3.35

Helix Energy Solutions Group Inc's working capital turnover has displayed fluctuations over the periods analyzed. The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue.

From March 31, 2020, to September 30, 2021, the working capital turnover saw a declining trend, indicating a decrease in the efficiency of utilizing working capital to generate sales. However, there was a slight increase in efficiency by December 31, 2021.

Starting from March 31, 2022, the working capital turnover ratio remained relatively stable around 2.6 to 2.7 until September 30, 2022. From that point onwards, there was a significant improvement in efficiency, with the ratio exceeding 5, indicating the company was able to generate sales at a faster rate using its working capital.

The spike in the working capital turnover ratio on June 30, 2023, to 8.66 suggests a substantial improvement in efficiency during that period, although this level was not sustained in the following periods. Subsequently, the ratio decreased but remained above 3 until the end of December 2024.

Overall, the analysis of Helix Energy Solutions Group Inc's working capital turnover ratio highlights periods of both efficiency and inefficiency in utilizing working capital to generate sales revenue over the analyzed timeframe.