JB Hunt Transport Services Inc (JBHT)

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	12,747,130	13,119,770	13,793,300	14,499,970	14,784,890	14,626,330	13,934,470	13,006,090	12,117,390	11,371,780	10,700,040	9,936,910	9,599,420	9,312,090	9,202,630	9,316,330	9,123,180	8,990,700	8,838,860	8,721,150
Total current assets	US$ in thousands	2,084,910	1,970,170	2,137,580	1,988,930	2,211,780	2,152,420	2,281,920	2,269,800	2,313,370	2,265,150	2,209,300	2,132,000	1,842,120	1,728,600	1,544,700	1,397,970	1,481,300	1,383,460	1,384,360	1,438,160
Total current liabilities	US$ in thousands	1,779,420	1,779,080	1,768,520	1,703,580	1,568,230	1,500,720	1,870,060	1,784,730	1,729,600	1,644,630	1,228,360	1,166,400	1,084,800	1,095,420	970,682	909,376	1,035,770	1,075,020	1,061,520	998,239
Working capital turnover		41.73	68.66	37.37	50.81	22.97	22.44	33.83	26.81	20.76	18.33	10.91	10.29	12.68	14.71	16.03	19.07	20.48	29.15	27.38	19.82

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $12,747,130K ÷ ($2,084,910K – $1,779,420K)
= 41.73

The working capital turnover for J.B. Hunt Transport Services, Inc. has shown fluctuations over the past eight quarters. In Q3 2023, the company achieved a significantly high working capital turnover of 68.95, indicating that it generated $68.95 in revenue for each dollar of working capital invested. This was a substantial improvement from the previous quarter and the highest value in the dataset.

However, this strong performance was followed by a dip in Q4 2023, where the working capital turnover decreased to 42.00. Although lower than the previous quarter, this value is still relatively high and indicates efficient utilization of working capital.

Looking at the trend over the eight quarters, it is evident that the company has been able to maintain working capital turnover above 30 in most quarters, showing a consistent ability to generate revenue relative to its working capital investment. This indicates a strong operational efficiency in utilizing its working capital resources to drive revenue generation.

Overall, the analysis of the working capital turnover suggests that J.B. Hunt Transport Services, Inc. has been effectively managing its working capital to generate revenue, with fluctuations in performance observed over the quarters but with a generally positive trend.