Marathon Digital Holdings Inc (MARA)
Working capital turnover
| 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 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 501,574 | 387,508 | 259,157 | 202,180 | 199,776 | 197,548 | 227,846 | 238,681 | 188,647 | 148,895 | 92,824 | 41,952 | 12,910 | 4,337 | 2,126 | 1,600 | 1,664 | 1,303 | 1,153 | 1,163 |
| Total current assets | US$ in thousands | 1,640,760 | 1,029,800 | 432,646 | 422,437 | 386,308 | 277,548 | 240,107 | 362,192 | 593,932 | 684,236 | 554,560 | 491,651 | 635,886 | 286,409 | 31,601 | 5,820 | 1,504 | 1,494 | 1,556 | 1,935 |
| Total current liabilities | US$ in thousands | 71,131 | 33,758 | 38,173 | 28,337 | 23,819 | 26,115 | 45,542 | 90,145 | 15,331 | 11,250 | 3,924 | 3,345 | 2,900 | 1,444 | 1,135 | 929 | 1,404 | 1,853 | 4,056 | 2,263 |
| Working capital turnover | 0.32 | 0.39 | 0.66 | 0.51 | 0.55 | 0.79 | 1.17 | 0.88 | 0.33 | 0.22 | 0.17 | 0.09 | 0.02 | 0.02 | 0.07 | 0.33 | 16.64 | — | — | — |
March 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $501,574K ÷ ($1,640,760K – $71,131K)
= 0.32
The working capital turnover of Marathon Digital Holdings Inc has shown fluctuating trends over the periods presented. The ratio has ranged from a low of 0.02 to a high of 1.17 over the past few years, indicating varying levels of efficiency in utilizing working capital to generate revenue.
In recent periods, the working capital turnover has been relatively stable, with values around 0.30 to 0.60, suggesting that the company is efficiently managing its working capital to support its operations and generate sales.
Notably, there was a significant spike in the working capital turnover to 16.64 in the first quarter of 2020, which may indicate a period of exceptional efficiency in utilizing working capital resources to drive revenue generation. However, this sharp increase could also be the result of specific events or one-time transactions, requiring further investigation to understand the underlying factors.
Overall, monitoring the working capital turnover can provide insights into the company's operational efficiency and its ability to effectively manage working capital resources to support business activities.
Peer comparison
Mar 31, 2024