Jabil Circuit Inc (JBL)

Working capital turnover

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Revenue (ttm)	US$ in thousands	32,864,000	33,262,000	34,496,000	35,012,000	34,905,000	34,363,000	33,323,000	31,701,450	30,597,290	29,874,810	29,140,990	29,008,250	28,121,180	27,402,560	27,063,170	26,546,240	26,337,560	26,279,490	25,282,320	24,451,590
Total current assets	US$ in thousands	12,470,000	14,654,000	14,730,000	13,609,000	13,781,000	14,678,000	13,908,000	12,472,000	11,867,000	11,812,000	10,877,000	10,259,500	9,143,650	9,847,190	9,135,000	8,266,290	7,977,840	9,252,230	8,345,080	7,974,370
Total current liabilities	US$ in thousands	10,691,000	13,030,000	12,695,000	12,796,000	13,282,000	14,372,000	13,697,000	11,942,000	11,714,000	11,965,000	10,683,000	9,847,000	8,842,380	9,662,000	9,059,000	8,768,280	8,405,140	9,562,050	8,532,100	7,867,220
Working capital turnover		18.47	20.48	16.95	43.07	69.95	112.30	157.93	59.81	199.98	—	150.21	70.32	93.34	147.97	356.09	—	—	—	—	228.20

February 29, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $32,864,000K ÷ ($12,470,000K – $10,691,000K)
= 18.47

The working capital turnover ratio for Jabil Circuit Inc has fluctuated over the past few quarters, indicating variations in how efficiently the company is utilizing its working capital to generate sales.

In the most recent period, as of February 29, 2024, the working capital turnover was 18.47, which suggests that for every dollar of working capital invested, the company generated $18.47 in sales. This represents a decrease from the previous quarter's ratio of 20.48 on November 30, 2023.

Looking further back, the working capital turnover ratio has shown significant variability, with notable peaks in efficiency. For instance, the ratio spiked to 356.09 on August 31, 2020, indicating a particularly efficient use of working capital at that time.

However, there are also periods where the ratio was not provided, which might suggest incomplete data or specific events affecting the calculation. It is important to investigate the reasons behind such omissions to gain a complete understanding of the company's working capital efficiency.

Overall, the trend in Jabil Circuit Inc's working capital turnover ratio reflects varying degrees of effectiveness in managing its working capital to support sales activities. Further analysis and comparison with industry norms and competitors may provide valuable insights into the company's overall financial health and operational efficiency.