Marathon Digital Holdings Inc (MARA)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 387,508 | 117,753 | 148,894 | 4,336 | 1,303 |
| Total current assets | US$ in thousands | 1,029,800 | 277,548 | 684,236 | 286,409 | 1,494 |
| Total current liabilities | US$ in thousands | 33,758 | 26,115 | 11,250 | 1,444 | 1,853 |
| Working capital turnover | 0.39 | 0.47 | 0.22 | 0.02 | — |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $387,508K ÷ ($1,029,800K – $33,758K)
= 0.39
The working capital turnover of Marathon Digital Holdings Inc has shown fluctuating trends over the past five years. In 2023, the working capital turnover ratio was 0.39, indicating that the company generated $0.39 of revenue for every dollar of working capital invested. This ratio was lower than the previous year's ratio of 0.47, suggesting a decrease in efficiency in utilizing working capital to generate revenue.
Compared to 2021, where the ratio was 0.22, there was a significant improvement in 2023. The company managed to generate more revenue per dollar of working capital in 2023. Additionally, in 2023, the company's working capital turnover performance was much better than in 2020 when the ratio was only 0.02. This substantial increase in efficiency indicates that Marathon Digital Holdings Inc has been more effective in utilizing its working capital to generate revenue over the past few years.
It is important to note that the company's working capital turnover was not available for the year 2019, thus limiting the ability to analyze the trend over a longer period. Nonetheless, the trend from 2020 to 2023 shows an improvement in the company's ability to generate revenue from its working capital, indicating enhanced operational efficiency.
Peer comparison
Dec 31, 2023