Las Vegas Sands Corp (LVS)

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	10,372,000	8,574,000	6,784,000	5,287,000	4,110,000	4,001,000	3,853,000	3,981,000	4,234,000	4,241,000	3,830,000	2,719,000	2,940,000	5,434,000	8,238,000	11,510,000	13,739,000	13,705,000	13,827,000	13,796,000
Total current assets	US$ in thousands	5,777,000	6,172,000	6,290,000	7,015,000	6,744,000	6,207,000	6,770,000	6,725,000	5,510,000	5,228,000	5,577,000	5,630,000	5,707,000	2,958,000	3,772,000	3,493,000	5,305,000	4,808,000	4,957,000	5,055,000
Total current liabilities	US$ in thousands	4,422,000	4,102,000	2,275,000	3,919,000	3,902,000	3,391,000	2,023,000	2,139,000	2,565,000	2,487,000	2,542,000	2,465,000	2,816,000	2,255,000	2,375,000	2,419,000	3,224,000	3,004,000	3,031,000	2,917,000
Working capital turnover		7.65	4.14	1.69	1.71	1.45	1.42	0.81	0.87	1.44	1.55	1.26	0.86	1.02	7.73	5.90	10.72	6.60	7.60	7.18	6.45

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $10,372,000K ÷ ($5,777,000K – $4,422,000K)
= 7.65

The working capital turnover ratio for Las Vegas Sands Corp has shown a fluctuating trend over the past eight quarters. In Q4 2023, the ratio peaked at 7.65, indicating that the company generated approximately $7.65 in net sales for every dollar of working capital invested. This signifies efficient management of working capital to generate revenue.

The ratio experienced a significant decrease in Q1 2022 at 0.87, suggesting a decline in the company's ability to generate sales relative to its working capital investment. Subsequently, there was a gradual improvement in the ratio until reaching the highest point in Q4 2023.

Overall, a higher working capital turnover ratio indicates better efficiency in utilizing working capital to drive sales, while a lower ratio implies inefficiencies in this aspect. Las Vegas Sands Corp should continue to monitor and enhance its working capital management strategies to optimize its operational performance.