Ingredion Incorporated (INGR)
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 | 7,430,000 | 7,551,000 | 7,714,000 | 7,905,000 | 8,160,000 | 8,226,000 | 8,216,000 | 8,191,000 | 7,946,000 | 7,714,000 | 7,454,000 | 7,172,000 | 6,894,000 | 6,732,000 | 6,471,000 | 6,058,000 | 5,987,000 | 5,943,000 | 6,015,000 | 6,216,000 |
| Total current assets | US$ in thousands | 3,355,000 | 3,351,000 | 3,099,000 | 3,125,000 | 3,399,000 | 3,289,000 | 3,311,000 | 3,402,000 | 3,309,000 | 3,268,000 | 3,177,000 | 3,129,000 | 2,697,000 | 2,733,000 | 2,813,000 | 2,610,000 | 2,647,000 | 2,430,000 | 2,820,000 | 2,188,000 |
| Total current liabilities | US$ in thousands | 1,281,000 | 1,255,000 | 1,230,000 | 1,283,000 | 1,772,000 | 1,668,000 | 1,720,000 | 1,892,000 | 1,882,000 | 1,949,000 | 1,845,000 | 1,721,000 | 1,512,000 | 1,457,000 | 1,101,000 | 1,380,000 | 1,078,000 | 955,000 | 1,282,000 | 937,000 |
| Working capital turnover | 3.58 | 3.60 | 4.13 | 4.29 | 5.02 | 5.07 | 5.16 | 5.42 | 5.57 | 5.85 | 5.60 | 5.09 | 5.82 | 5.28 | 3.78 | 4.93 | 3.82 | 4.03 | 3.91 | 4.97 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,430,000K ÷ ($3,355,000K – $1,281,000K)
= 3.58
Ingredion Incorporated's working capital turnover has shown varying trends over the period from March 31, 2020, to December 31, 2024. The working capital turnover ratio provides insights into how efficiently the company is utilizing its working capital to generate sales revenue.
From March 2020 to December 2020, there was a general decline in the working capital turnover ratio, indicating a potential decrease in the efficiency of working capital management during this period. However, in the subsequent quarters from March 2021 to June 2022, the ratio showed a consistent improvement, reaching its peak at 5.85 by September 2022. This suggests that the company was able to effectively utilize its working capital to support sales growth during this period.
Subsequently, from December 2022 to December 2024, there was a slight decline in the working capital turnover ratio. While the ratio remained relatively high compared to earlier periods, this decline may indicate a potential slowdown in the company's ability to efficiently convert its working capital into sales revenue.
Overall, the trend in working capital turnover for Ingredion Incorporated shows fluctuations but generally reflects a proactive approach to optimizing working capital efficiency to drive sales growth. Monitoring this ratio can provide valuable insights into the company's liquidity and operational efficiency.
Peer comparison
Dec 31, 2024