Martin Marietta Materials Inc (MLM)
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 | 6,611,800 | 6,477,700 | 6,293,300 | 6,113,300 | 5,994,600 | 6,009,400 | 5,753,500 | 5,504,700 | 5,270,300 | 4,974,600 | 4,754,300 | 4,643,900 | 4,615,000 | 4,529,960 | 4,625,070 | 4,631,840 | 4,610,360 | 4,558,440 | 4,354,800 | 4,278,060 |
| Total current assets | US$ in thousands | 3,918,900 | 2,817,400 | 3,192,300 | 2,812,700 | 2,876,900 | 2,847,300 | 2,760,300 | 1,987,500 | 2,025,600 | 4,000,700 | 1,616,300 | 1,675,700 | 1,668,300 | 1,652,800 | 1,587,100 | 1,833,000 | 1,426,700 | 1,578,400 | 1,533,120 | 1,370,110 |
| Total current liabilities | US$ in thousands | 1,170,200 | 1,141,100 | 1,442,400 | 1,328,000 | 1,445,600 | 1,419,700 | 761,400 | 712,900 | 752,600 | 601,200 | 758,000 | 448,800 | 499,300 | 506,200 | 595,300 | 1,075,600 | 838,500 | 688,982 | 822,216 | 757,637 |
| Working capital turnover | 2.41 | 3.86 | 3.60 | 4.12 | 4.19 | 4.21 | 2.88 | 4.32 | 4.14 | 1.46 | 5.54 | 3.79 | 3.95 | 3.95 | 4.66 | 6.12 | 7.84 | 5.13 | 6.13 | 6.98 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,611,800K ÷ ($3,918,900K – $1,170,200K)
= 2.41
The working capital turnover for Martin Marietta Materials, Inc. has shown fluctuations over the past eight quarters. The ratio peaked at 4.44 in Q1 2022 and then dropped to 2.96 in Q2 2022 before gradually recovering and reaching 4.23 in Q1 2023. Q4 2022 saw a slightly higher turnover of 4.30 compared to the following quarters. However, the turnover ratio significantly increased in Q3 2023 to 3.96, dropping slightly to 2.47 in Q4 2023.
Overall, the working capital turnover ratio for Martin Marietta Materials, Inc. demonstrates that the company's ability to efficiently utilize its working capital to generate revenue has fluctuated. A higher turnover ratio indicates that the company is effectively using its working capital to support its operations and generate sales. However, the fluctuations observed in the data suggest potential variability in the company's working capital management efficiency over the analyzed period. Further analysis and comparison with industry benchmarks may provide additional insights into the company's financial performance and efficiency.
Peer comparison
Dec 31, 2023