The Mosaic Company (MOS)
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 | 14,142,000 | 13,242,400 | 16,030,200 | 18,535,500 | 19,125,200 | 20,318,500 | 17,641,300 | 14,700,400 | 12,357,400 | 11,172,800 | 10,172,900 | 9,354,000 | 8,681,700 | 7,900,800 | 8,286,100 | 8,475,100 | 8,921,500 | 9,698,800 | 9,902,100 | 9,758,700 |
| Total current assets | US$ in thousands | 4,745,000 | 5,156,800 | 5,711,700 | 5,853,400 | 6,556,600 | 6,899,700 | 7,298,700 | 6,225,400 | 5,325,300 | 4,599,100 | 4,987,600 | 3,727,300 | 3,521,200 | 3,748,800 | 4,055,600 | 4,221,100 | 3,718,200 | 4,125,300 | 4,228,800 | 4,146,300 |
| Total current liabilities | US$ in thousands | 3,873,700 | 4,696,300 | 4,839,400 | 5,167,600 | 5,533,800 | 5,130,300 | 5,632,000 | 5,051,700 | 4,787,400 | 3,494,500 | 4,137,900 | 3,355,000 | 3,146,500 | 2,865,700 | 3,112,900 | 3,269,000 | 2,591,700 | 2,724,500 | 2,526,900 | 2,397,200 |
| Working capital turnover | 16.23 | 28.76 | 18.38 | 27.03 | 18.70 | 11.48 | 10.58 | 12.52 | 22.97 | 10.11 | 11.97 | 25.12 | 23.17 | 8.95 | 8.79 | 8.90 | 7.92 | 6.92 | 5.82 | 5.58 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $14,142,000K ÷ ($4,745,000K – $3,873,700K)
= 16.23
The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales. It is calculated by dividing net sales by average working capital.
Analyzing the working capital turnover trend for Mosaic Company over the past eight quarters, we observe fluctuations in the ratio. In Q4 2023, the working capital turnover was 15.72, representing a significant decrease from the previous quarter at 32.63. This implies that Mosaic Company was less effective in utilizing its working capital to generate sales in Q4 2023 compared to Q3 2023.
Looking further back, Q2 2023 had a working capital turnover of 19.29, which was lower than Q3 2023 but higher than both Q1 2023 and Q4 2023. This indicates a fluctuating trend in the efficiency of working capital utilization within the past year.
Comparing the latest results to the same quarter in the previous year, Q4 2023 demonstrated an improvement in working capital turnover from 18.70 in Q4 2022. However, the efficiency was not as high as in Q3 2023.
Overall, the working capital turnover for Mosaic Company has shown variability in recent quarters. It is important for the company to closely monitor and manage its working capital to ensure optimal utilization for generating sales and sustaining business operations.
Peer comparison
Dec 31, 2023
See also:
The Mosaic Company Working Capital Turnover (Quarterly Data)