Lindsay Corporation (LNN)
Working capital turnover
| Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | Aug 31, 2020 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 674,084 | 770,743 | 567,646 | 474,692 | 444,072 |
| Total current assets | US$ in thousands | 487,484 | 477,101 | 416,103 | 347,935 | 313,490 |
| Total current liabilities | US$ in thousands | 136,108 | 160,942 | 138,240 | 102,395 | 82,131 |
| Working capital turnover | 1.92 | 2.44 | 2.04 | 1.93 | 1.92 |
August 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $674,084K ÷ ($487,484K – $136,108K)
= 1.92
The working capital turnover for Lindsay Corporation has fluctuated over the past five years. In 2023, the working capital turnover was 1.92, down from 2.44 in 2022. This indicates that the company generated $1.92 in net sales for every dollar of working capital in 2023. The decrease in working capital turnover from the previous year may suggest that the company was less efficient in utilizing its working capital to generate sales. However, it is important to consider the industry average and other financial indicators to gain a more comprehensive understanding of the company's financial performance.
Peer comparison
Aug 31, 2023