International Seaways Inc (INSW)

Working capital turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 951,613 1,071,780 864,665 272,546 421,648
Total current assets US$ in thousands 376,323 464,980 642,615 224,499 256,834
Total current liabilities US$ in thousands 130,935 195,574 257,389 234,611 108,896
Working capital turnover 3.88 3.98 2.24 — 2.85

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $951,613K ÷ ($376,323K – $130,935K)
= 3.88

The working capital turnover ratio for International Seaways Inc has shown some fluctuations over the years. In 2020, the working capital turnover stood at 2.85, indicating that the company generated $2.85 of revenue for every dollar of working capital invested. This ratio was not available for 2021.

In 2022, the working capital turnover decreased to 2.24, suggesting a decline in efficiency in generating revenue from working capital. However, there was a significant improvement in 2023, with the ratio increasing to 3.98. This indicates that the company was able to generate almost $4 in revenue for every dollar of working capital invested, reflecting strong efficiency in managing its working capital.

The trend continued in 2024, with the working capital turnover ratio remaining high at 3.88, indicating that International Seaways Inc maintained its efficiency in utilizing working capital to generate revenue. Overall, the company's working capital turnover ratio has shown variability, with a notable improvement in recent years, reflecting the company's ability to efficiently utilize its working capital to drive revenue generation.