Harley-Davidson Inc (HOG)
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 | 5,186,809 | 5,552,410 | 5,950,770 | 5,777,400 | 5,836,480 | 5,925,550 | 6,025,070 | 6,048,640 | 5,755,140 | 5,629,290 | 5,346,020 | 5,408,990 | 5,336,310 | 5,045,102 | 4,845,472 | 4,178,639 | 4,054,369 | 4,401,417 | 4,508,257 | 5,275,650 |
| Total current assets | US$ in thousands | 4,996,640 | 5,889,940 | 5,637,640 | 5,385,900 | 5,163,730 | 5,422,810 | 5,014,420 | 5,290,510 | 4,750,650 | 5,012,180 | 5,308,170 | 4,387,260 | 4,550,090 | 4,708,420 | 4,469,600 | 5,187,140 | 5,845,430 | 6,156,730 | 6,811,830 | 4,976,380 |
| Total current liabilities | US$ in thousands | 3,557,490 | 4,169,520 | 3,764,340 | 3,491,320 | 3,384,260 | 2,672,820 | 2,466,460 | 3,084,580 | 3,533,910 | 3,679,910 | 3,675,900 | 3,283,260 | 3,342,890 | 3,430,110 | 3,451,150 | 3,454,600 | 3,981,950 | 4,217,430 | 4,655,100 | 4,580,070 |
| Working capital turnover | 3.60 | 3.23 | 3.18 | 3.05 | 3.28 | 2.15 | 2.36 | 2.74 | 4.73 | 4.23 | 3.28 | 4.90 | 4.42 | 3.95 | 4.76 | 2.41 | 2.18 | 2.27 | 2.09 | 13.31 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $5,186,809K ÷ ($4,996,640K – $3,557,490K)
= 3.60
The working capital turnover ratio of Harley-Davidson Inc has shown fluctuating trends over the past few years. The ratio, which measures how efficiently the company is using its working capital to generate sales revenue, was as high as 13.31 on March 31, 2020. However, in subsequent quarters, it decreased significantly to around 2, indicating a lower level of efficiency in utilizing its working capital during those periods.
From June 30, 2021, the working capital turnover ratio started to increase and reached its peak of 4.90 on March 31, 2022, indicating an improvement in the company's ability to generate revenue using its working capital. Subsequently, the ratio fluctuated but generally remained at a higher level compared to its lowest points.
Overall, the working capital turnover ratio of Harley-Davidson Inc has shown variability over the periods analyzed, with both peaks and troughs. The company's ability to efficiently utilize its working capital to generate revenue has improved over time, showcasing better management of its resources in recent years.
Peer comparison
Dec 31, 2024