Marathon Petroleum Corp (MPC)

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	112,014,000	149,401,000	155,477,000	172,956,000	176,332,000	174,030,000	159,303,000	134,956,000	119,445,000	102,060,000	86,991,000	72,416,000	75,044,000	88,164,000	102,095,000	120,790,000	123,949,000	125,190,000	117,135,000	105,905,000
Total current assets	US$ in thousands	32,131,000	36,275,000	32,213,000	32,486,000	35,242,000	35,285,000	42,413,000	36,388,000	30,496,000	34,143,000	38,592,000	30,361,000	28,287,000	26,200,000	14,643,000	15,693,000	30,458,000	19,139,000	18,396,000	18,151,000
Total current liabilities	US$ in thousands	20,150,000	21,735,000	17,466,000	17,057,000	20,020,000	21,314,000	28,437,000	25,120,000	17,898,000	16,898,000	19,512,000	16,085,000	15,663,000	14,246,000	11,504,000	13,569,000	16,948,000	15,339,000	14,890,000	15,147,000
Working capital turnover		9.35	10.28	10.54	11.21	11.58	12.46	11.40	11.98	9.48	5.92	4.56	5.07	5.94	7.38	32.52	56.87	9.17	32.94	33.41	35.25

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $112,014,000K ÷ ($32,131,000K – $20,150,000K)
= 9.35

The working capital turnover ratio for Marathon Petroleum Corp has shown variability over the past eight quarters, ranging from a low of 10.50 in Q3 2023 to a high of 12.47 in Q4 2023. This ratio measures how efficiently the company is using its working capital to generate sales revenue. A higher ratio indicates that the company is able to generate more sales for each dollar of working capital invested.

The average working capital turnover for the past eight quarters is approximately 11.65, suggesting that, on average, Marathon Petroleum Corp is able to generate $11.65 in sales revenue for every dollar of working capital invested.

Overall, the fluctuation in the working capital turnover ratio indicates that the company's efficiency in utilizing its working capital to generate sales revenue has varied over time. It would be important for stakeholders to monitor this ratio closely to assess the company's operational efficiency and financial health.