Kelly Services A Inc (KELYA)

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	4,835,500	3,861,600	3,911,600	2,700,700	1,433,300	2,422,100	2,449,600	3,702,000	4,906,200	4,897,300	4,739,800	4,458,800	4,516,300	4,613,700	4,843,900	5,235,600	5,355,600	5,432,500	5,507,200	5,526,600
Total current assets	US$ in thousands	1,626,600	1,591,500	1,628,200	1,632,500	1,715,200	1,730,100	1,737,000	1,826,300	1,588,700	1,538,400	1,509,300	1,595,600	1,549,600	1,431,000	1,377,200	1,365,800	1,405,700	1,365,800	1,392,900	1,400,200
Total current liabilities	US$ in thousands	1,019,900	1,025,300	1,054,900	1,050,900	1,128,800	1,143,000	1,161,000	1,196,300	1,095,200	1,078,000	1,053,900	962,900	925,600	796,500	791,400	842,800	884,100	900,000	931,100	973,400
Working capital turnover		7.97	6.82	6.82	4.64	2.44	4.13	4.25	5.88	9.94	10.64	10.41	7.05	7.24	7.27	8.27	10.01	10.27	11.66	11.93	12.95

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,835,500K ÷ ($1,626,600K – $1,019,900K)
= 7.97

Kelly Services, Inc. has shown relatively stable working capital turnover over the past eight quarters, ranging from a low of 7.94 in Q1 2022 to a high of 8.70 in Q2 2022. The working capital turnover ratio measures how effectively the company is using its working capital to generate sales revenue. A higher ratio indicates that Kelly Services is efficiently utilizing its current assets and liabilities to generate sales, with the ability to quickly convert working capital into revenue. It's positive to note that the company has consistently maintained relatively high working capital turnover ratios, showing efficient management of its working capital over the observed period.