Molina Healthcare Inc (MOH)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	34,072,000	31,974,000	27,771,000	19,423,000	16,829,000
Total current assets	US$ in thousands	12,542,000	10,084,000	10,064,000	7,876,000	5,967,000
Total current liabilities	US$ in thousands	8,168,000	6,855,000	7,047,000	4,965,000	3,269,000
Working capital turnover		7.79	9.90	9.20	6.67	6.24

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $34,072,000K ÷ ($12,542,000K – $8,168,000K)
= 7.79

Molina Healthcare Inc's working capital turnover has shown fluctuations over the past five years. The metric decreased from 9.20 in 2021 to 6.67 in 2020 before increasing to 9.90 in 2022 and further to 7.79 in 2023. This indicates that, on average, the company generated $7.79 in revenue for every dollar of working capital in 2023. The variations in working capital turnover suggest changes in the efficiency of Molina Healthcare Inc in utilizing its working capital to generate sales revenue over the years.