The Coca-Cola Company (KO)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 45,754,000 | 43,004,000 | 38,655,000 | 33,014,000 | 37,266,000 |
| Total current assets | US$ in thousands | 26,732,000 | 22,591,000 | 22,545,000 | 19,240,000 | 20,411,000 |
| Total current liabilities | US$ in thousands | 23,571,000 | 19,724,000 | 19,950,000 | 14,601,000 | 26,973,000 |
| Working capital turnover | 14.47 | 15.00 | 14.90 | 7.12 | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $45,754,000K ÷ ($26,732,000K – $23,571,000K)
= 14.47
Coca-Cola Co's working capital turnover ratio has shown a consistent trend over the past five years, indicating the company's efficiency in managing its working capital to generate revenue. The ratio has ranged from 7.12 to 15.00, with a notable increase between 2020 and 2021, reaching a peak of 15.00. This suggests that the company has been able to effectively use its working capital to support its operations and drive sales. However, it decreased slightly in 2023 to 14.47, still reflecting a strong performance. Overall, the working capital turnover ratio demonstrates Coca-Cola Co's ability to efficiently utilize its resources to generate revenues.
Peer comparison
Dec 31, 2023