Itron Inc (ITRI)
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 | 2,168,374 | 2,058,238 | 1,919,092 | 1,810,221 | 1,789,196 | 1,772,212 | 1,837,352 | 1,882,538 | 1,918,727 | 1,982,641 | 2,027,694 | 2,050,196 | 2,129,627 | 2,242,805 | 2,325,037 | 2,448,668 | 2,462,571 | 2,421,232 | 2,391,417 | 2,341,121 |
| Total current assets | US$ in thousands | 1,049,440 | 1,009,740 | 969,987 | 902,056 | 829,584 | 808,642 | 756,088 | 792,527 | 749,929 | 802,387 | 842,900 | 1,260,100 | 930,262 | 1,352,170 | 1,354,830 | 1,387,730 | 997,251 | 967,023 | 962,596 | 934,977 |
| Total current liabilities | US$ in thousands | 537,236 | 555,924 | 559,920 | 536,555 | 498,572 | 502,117 | 461,190 | 501,568 | 501,344 | 495,754 | 514,365 | 909,562 | 549,899 | 586,705 | 601,679 | 667,094 | 671,391 | 684,603 | 670,160 | 665,878 |
| Working capital turnover | 4.23 | 4.54 | 4.68 | 4.95 | 5.41 | 5.78 | 6.23 | 6.47 | 7.72 | 6.47 | 6.17 | 5.85 | 5.60 | 2.93 | 3.09 | 3.40 | 7.56 | 8.57 | 8.18 | 8.70 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,168,374K ÷ ($1,049,440K – $537,236K)
= 4.23
Itron Inc.'s working capital turnover has exhibited a declining trend over the past eight quarters, decreasing from 6.66 in Q1 2022 to 4.24 in Q4 2023. This downward trajectory suggests that the company is becoming less efficient in utilizing its working capital to generate sales revenue. A lower working capital turnover ratio may indicate inefficient management of inventory, receivables, or payables, which could lead to potential liquidity issues or operational inefficiencies. It would be advisable for Itron Inc. to closely monitor and address the factors contributing to this decline in order to improve its working capital management and overall financial performance.
Peer comparison
Dec 31, 2023