Stride Inc (LRN)

Working capital turnover

		Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	2,036,610	1,987,713	1,937,438	1,890,964	1,836,068	1,806,731	1,758,305	1,709,439	1,684,896	1,625,762	1,596,760	1,564,135	1,535,397	1,408,686	1,273,532	1,154,604	1,040,639	1,029,236	1,025,395	1,022,758
Total current assets	US$ in thousands	1,245,450	1,209,080	1,088,870	1,080,280	1,065,200	1,006,810	928,815	931,137	950,534	871,579	816,131	857,579	857,530	830,205	768,477	805,491	501,271	486,698	513,694	498,310
Total current liabilities	US$ in thousands	244,280	281,961	240,902	299,136	309,135	284,247	249,258	289,245	302,073	250,179	238,198	284,634	306,244	254,802	228,611	235,994	273,416	257,619	133,670	139,702
Working capital turnover		2.03	2.14	2.28	2.42	2.43	2.50	2.59	2.66	2.60	2.62	2.76	2.73	2.79	2.45	2.36	2.03	4.57	4.49	2.70	2.85

June 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,036,610K ÷ ($1,245,450K – $244,280K)
= 2.03

The working capital turnover ratio for Stride Inc has shown some fluctuations over the past few quarters. The ratio peaked at 4.57 in the March 2020 quarter, indicating that the company was effectively utilizing its working capital to generate revenue. However, there was a significant decrease in the ratio in the subsequent quarters, dropping to 2.03 in the September 2020 quarter.

From September 2020 to June 2021, there was a gradual increase in the working capital turnover ratio, reaching 2.79 by the end of March 2021. This improvement suggests that the company was managing its working capital more efficiently during this period.

Subsequently, there were minor fluctuations in the ratio, with values ranging between 2.60 and 2.76 from June 2021 to March 2022. The ratio then increased to 2.85 in the September 2022 quarter, indicating a positive trend in working capital management.

In the most recent quarters, the working capital turnover ratio has been relatively stable, with values ranging between 2.03 and 2.28. Overall, while there have been fluctuations in the ratio over the analyzed periods, there seems to be an overall trend of improved working capital turnover efficiency for Stride Inc.