MDU Resources Group Inc (MDU)
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 | 4,964,590 | 7,683,780 | 7,685,470 | 7,604,090 | 7,283,310 | 4,871,920 | 5,455,440 | 5,869,350 | 5,680,730 | 5,622,770 | 5,624,050 | 5,563,320 | 5,532,750 | 5,525,800 | 5,502,310 | 5,442,950 | 5,336,770 | 5,168,440 | 4,885,430 | 4,646,460 |
| Total current assets | US$ in thousands | 1,363,720 | 1,515,010 | 1,544,830 | 2,108,710 | 2,011,750 | 2,024,290 | 1,849,070 | 1,571,910 | 1,550,940 | 1,565,890 | 1,461,940 | 1,323,270 | 1,337,350 | 1,502,560 | 1,396,770 | 1,373,390 | 1,297,700 | 1,461,820 | 1,444,810 | 1,235,230 |
| Total current liabilities | US$ in thousands | 1,075,730 | 1,173,660 | 1,131,760 | 1,636,330 | 1,479,600 | 1,468,300 | 1,370,510 | 1,166,730 | 1,092,240 | 1,072,920 | 944,360 | 900,037 | 963,522 | 1,066,990 | 999,719 | 824,479 | 866,427 | 1,033,680 | 912,602 | 1,062,780 |
| Working capital turnover | 17.24 | 22.51 | 18.61 | 16.10 | 13.69 | 8.76 | 11.40 | 14.49 | 12.38 | 11.41 | 10.87 | 13.14 | 14.80 | 12.69 | 13.86 | 9.92 | 12.37 | 12.07 | 9.18 | 26.94 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,964,590K ÷ ($1,363,720K – $1,075,730K)
= 17.24
MDU Resources Group Inc's working capital turnover has shown a consistent upward trend over the past eight quarters. The working capital turnover ratio measures how efficiently a company is using its working capital to generate revenue. A higher ratio indicates better efficiency in utilizing working capital.
In Q4 2023, the working capital turnover ratio was 16.17, which indicates that MDU Resources Group Inc generated $16.17 in revenue for every dollar of working capital invested. This represents an improvement from the previous quarter's ratio of 15.44 in Q1 2023.
Comparing the current ratio with the same quarter in the previous year, there has been significant improvement, as the Q4 2023 ratio of 16.17 is higher than the Q4 2022 ratio of 13.11. This suggests that MDU Resources Group Inc has enhanced its working capital management efficiency over this period.
Overall, the increasing trend in the working capital turnover ratio reflects positively on MDU Resources Group Inc's ability to efficiently utilize its working capital to generate revenue and indicates improved liquidity and financial health.
Peer comparison
Dec 31, 2023