Molina Healthcare Inc (MOH)
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 | 34,072,000 | 33,247,000 | 32,626,000 | 32,353,000 | 31,974,000 | 31,160,000 | 30,273,000 | 29,019,000 | 27,771,000 | 25,597,000 | 23,578,000 | 21,396,000 | 19,423,000 | 18,462,000 | 17,684,000 | 17,259,000 | 16,829,000 | 17,219,000 | 17,673,000 | 18,363,000 |
| Total current assets | US$ in thousands | 12,542,000 | 12,468,000 | 11,441,000 | 11,159,000 | 10,084,000 | 10,492,000 | 10,332,000 | 10,146,000 | 10,064,000 | 9,366,000 | 8,874,000 | 8,308,000 | 7,876,000 | 6,953,000 | 7,062,000 | 6,324,000 | 5,967,000 | 5,877,000 | 5,863,000 | 6,731,000 |
| Total current liabilities | US$ in thousands | 8,168,000 | 8,492,000 | 7,537,000 | 7,614,000 | 6,855,000 | 7,242,000 | 7,225,000 | 7,041,000 | 7,047,000 | 6,070,000 | 5,707,000 | 5,323,000 | 4,965,000 | 3,556,000 | 3,755,000 | 3,570,000 | 3,269,000 | 3,308,000 | 3,388,000 | 4,292,000 |
| Working capital turnover | 7.79 | 8.36 | 8.36 | 9.13 | 9.90 | 9.59 | 9.74 | 9.35 | 9.20 | 7.77 | 7.44 | 7.17 | 6.67 | 5.43 | 5.35 | 6.27 | 6.24 | 6.70 | 7.14 | 7.53 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $34,072,000K ÷ ($12,542,000K – $8,168,000K)
= 7.79
The working capital turnover of Molina Healthcare Inc has shown a decreasing trend over the past year, with a value of 9.90 in Q4 2022 decreasing to 7.79 in Q4 2023. This indicates that the company is utilizing its working capital less efficiently to generate revenue. Although there was a slight improvement in Q3 2023, the overall trend suggests a potential inefficiency in managing working capital. Further analysis and comparison with industry benchmarks may be necessary to understand the specific factors contributing to this trend and to identify potential areas for improvement in working capital management.
Peer comparison
Dec 31, 2023