Middlesex Water Company (MSEX)

Working capital turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Revenue (ttm) US$ in thousands 191,877 183,372 174,987 165,353 160,542 160,340 159,166 157,131 161,158 154,740 147,137 144,256 135,282 135,917 135,959 134,658 133,956 131,761 129,520 127,795
Total current assets US$ in thousands 42,973 52,146 121,002 111,214 108,536 135,762 40,570 39,521 37,306 41,472 39,020 32,865 34,355 40,567 37,242 31,380 34,123 37,867 43,989 40,010
Total current liabilities US$ in thousands 82,888 79,912 134,983 117,156 103,829 121,303 87,563 95,978 117,859 92,967 78,829 59,669 56,619 92,494 80,745 65,801 56,848 85,354 84,294 80,539
Working capital turnover — — — — 34.11 11.09 — — — — — — — — — — — — — —

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $191,877K ÷ ($42,973K – $82,888K)
= —

Working capital turnover is a financial ratio that measures the efficiency of a company in utilizing its working capital to generate sales revenue. In the case of Middlesex Water Company, the data provided shows that the working capital turnover was not available for most of the periods, except for September 30, 2023, and December 31, 2023, where the working capital turnover was 11.09 and 34.11, respectively.

A working capital turnover of 11.09 indicates that for every dollar of working capital, Middlesex Water Company generated $11.09 in sales revenue during the period ending September 30, 2023. This ratio suggests that the company efficiently managed its working capital during this specific period.

Furthermore, the significant increase in the working capital turnover to 34.11 for the period ending December 31, 2023, is a positive indicator. It implies that the company was able to generate even more sales revenue for each dollar of working capital invested, showing improved efficiency in utilizing its working capital.

It is important to note that the unavailability of working capital turnover data for most periods makes it challenging to assess the trend or consistency of the company's working capital management efficiency over time. Additional data points would be necessary to provide a more comprehensive analysis of Middlesex Water Company's working capital turnover performance.