Mednax Inc (MD)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,952,560 | 1,875,310 | 1,820,660 | 1,623,470 | 3,394,160 |
| Total current assets | US$ in thousands | 483,454 | 427,989 | 840,564 | 1,549,350 | 731,507 |
| Total current liabilities | US$ in thousands | 388,946 | 426,983 | 427,366 | 444,335 | 541,818 |
| Working capital turnover | 20.66 | 1,864.13 | 4.41 | 1.47 | 17.89 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,952,560K ÷ ($483,454K – $388,946K)
= 20.66
The working capital turnover of Pediatrix Medical Group Inc has fluctuated significantly over the past five years. In 2023, the working capital turnover was 21.11, indicating that the company generated $21.11 in revenues for every $1 of working capital invested. This is significantly higher compared to the previous years, where the ratios were 1,960.26 in 2022, 4.63 in 2021, 1.57 in 2020, and 18.52 in 2019.
The exceptionally high working capital turnover in 2022 may indicate a possible data discrepancy or irregularity. In general, a higher working capital turnover signifies efficient use of working capital in generating sales, while a lower ratio may indicate inefficient utilization of working capital.
It is crucial for Pediatrix Medical Group Inc to closely monitor its working capital turnover to ensure optimal management of its working capital and overall financial performance. Fluctuations in this ratio can provide insights into the company's liquidity, efficiency, and overall financial health.
Peer comparison
Dec 31, 2023