Masco Corporation (MAS)
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 | 7,861,000 | 7,896,000 | 8,121,000 | 8,341,000 | 8,568,000 | 8,318,000 | 8,321,000 | 8,159,000 | 7,747,000 | 7,958,000 | 7,728,000 | 7,303,000 | 7,072,000 | 6,851,000 | 6,811,000 | 7,316,000 | 7,648,000 | 8,050,000 | 8,210,000 | 8,228,000 |
| Total current assets | US$ in thousands | 2,856,000 | 2,964,000 | 3,007,000 | 3,148,000 | 2,946,000 | 3,264,000 | 3,359,000 | 3,428,000 | 3,422,000 | 3,404,000 | 3,259,000 | 3,206,000 | 3,489,000 | 3,487,000 | 3,225,000 | 2,745,000 | 2,711,000 | 2,792,000 | 2,843,000 | 2,758,000 |
| Total current liabilities | US$ in thousands | 1,695,000 | 1,662,000 | 1,749,000 | 2,018,000 | 1,889,000 | 2,224,000 | 2,467,000 | 2,136,000 | 1,939,000 | 1,879,000 | 1,778,000 | 1,748,000 | 1,934,000 | 1,737,000 | 2,154,000 | 1,504,000 | 1,548,000 | 1,909,000 | 1,953,000 | 1,929,000 |
| Working capital turnover | 6.77 | 6.06 | 6.46 | 7.38 | 8.11 | 8.00 | 9.33 | 6.32 | 5.22 | 5.22 | 5.22 | 5.01 | 4.55 | 3.91 | 6.36 | 5.90 | 6.58 | 9.12 | 9.22 | 9.93 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,861,000K ÷ ($2,856,000K – $1,695,000K)
= 6.77
Masco Corp.'s working capital turnover has shown fluctuating trends over the past eight quarters. The working capital turnover for Q4 2023 was 6.86, marking a slight increase from the previous quarter's 6.15. This indicates that the company generated $6.86 in revenue for every dollar of working capital invested during the quarter.
Comparing this to previous quarters, Masco Corp. experienced a downward trend from Q4 2022 to Q3 2023, reaching its lowest point at 6.15. However, there was a subsequent increase in Q4 2023, suggesting improved efficiency in utilizing its working capital to generate revenue.
Despite these fluctuations, Masco Corp.'s working capital turnover remains relatively strong, consistently above 6 in the past eight quarters. This indicates that the company is efficiently managing its working capital to support its operations and generate revenue.
Overall, Masco Corp.'s working capital turnover ratio reflects the company's ability to maximize revenue generation from its working capital resources over the analyzed period.
Peer comparison
Dec 31, 2023