Mednax Inc (MD)
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 | 1,952,565 | 1,970,095 | 1,954,256 | 1,942,533 | 1,875,310 | 1,838,785 | 1,833,740 | 1,819,476 | 1,820,657 | 1,742,618 | 1,700,649 | 1,718,227 | 2,121,961 | 2,610,331 | 3,035,720 | 3,392,011 | 3,394,161 | 3,423,711 | 3,439,807 | 3,496,892 |
| Total current assets | US$ in thousands | 483,454 | 420,524 | 397,767 | 408,592 | 427,989 | 423,707 | 459,301 | 439,777 | 840,564 | 788,029 | 752,313 | 665,399 | 1,549,350 | 1,651,160 | 688,329 | 940,896 | 731,507 | 965,301 | 985,520 | 1,057,420 |
| Total current liabilities | US$ in thousands | 388,946 | 350,444 | 320,318 | 284,218 | 426,983 | 351,694 | 329,415 | 269,727 | 427,366 | 397,564 | 351,105 | 326,958 | 444,335 | 488,364 | 383,933 | 346,400 | 541,818 | 500,790 | 441,046 | 415,183 |
| Working capital turnover | 20.66 | 28.11 | 25.23 | 15.62 | 1,864.13 | 25.53 | 14.12 | 10.70 | 4.41 | 4.46 | 4.24 | 5.08 | 1.92 | 2.24 | 9.97 | 5.71 | 17.89 | 7.37 | 6.32 | 5.44 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,952,565K ÷ ($483,454K – $388,946K)
= 20.66
The working capital turnover ratio for Pediatrix Medical Group Inc has fluctuated significantly over the past eight quarters. The ratio compares net sales to average working capital and indicates how efficiently the company is utilizing its working capital to generate sales revenue.
In Q4 2023, the working capital turnover ratio was 21.11, showing a decrease from the previous quarter's ratio of 28.71 in Q3 2023. This decrease suggests that the company was less efficient in utilizing its working capital to generate sales revenue during Q4 2023.
The highest working capital turnover ratio was observed in Q4 2022 at an exceptionally high value of 1,960.26. This significant spike may indicate a unique event or anomaly affecting the company's working capital management during that quarter, warranting further investigation.
Overall, Pediatrix Medical Group Inc's working capital turnover ratio has displayed significant volatility, with both high and low values observed throughout the given period. Further analysis and comparison with industry benchmarks would be necessary to assess the company's working capital efficiency accurately.
Peer comparison
Dec 31, 2023