Ingredion Incorporated (INGR)
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 | 8,160,000 | 8,226,000 | 8,216,000 | 8,191,000 | 7,946,000 | 7,714,000 | 7,454,000 | 7,187,000 | 6,909,000 | 6,747,000 | 6,486,000 | 6,058,000 | 5,987,000 | 5,943,000 | 5,898,000 | 5,983,000 | 5,860,000 | 5,737,000 | 5,730,000 | 5,792,000 |
| Total current assets | US$ in thousands | 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 | 2,160,000 | 2,342,000 | 2,215,000 | 2,170,000 |
| Total current liabilities | US$ in thousands | 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 | 1,458,000 | 955,000 | 1,282,000 | 937,000 | 967,000 | 957,000 | 894,000 | 901,000 |
| Working capital turnover | 5.02 | 5.07 | 5.16 | 5.42 | 5.57 | 5.85 | 5.60 | 5.10 | 5.83 | 5.29 | 3.79 | 4.93 | 5.04 | 4.03 | 3.83 | 4.78 | 4.91 | 4.14 | 4.34 | 4.56 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $8,160,000K ÷ ($3,399,000K – $1,772,000K)
= 5.02
The working capital turnover of Ingredion Inc has shown a consistent trend over the past eight quarters, ranging from 5.02 to 5.85. This ratio measures the efficiency with which the company is utilizing its working capital to generate revenues.
A higher working capital turnover ratio indicates that the company is able to efficiently manage its working capital to support its operations and generate sales. Ingredion Inc's ratios above 5 suggest that the company is effectively using its current assets and liabilities to generate sales throughout the periods analyzed.
Overall, the consistent and relatively high working capital turnover ratios of Ingredion Inc demonstrate the company's ability to efficiently manage its working capital and support its revenue generation activities. This efficiency in utilizing resources reflects positively on the company's operational effectiveness and financial health.
Peer comparison
Dec 31, 2023