Matador Resources Company (MTDR)

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	3,504,981	3,370,744	3,243,255	3,034,202	2,806,785	2,678,128	2,746,762	3,052,609	3,058,025	2,916,908	2,548,331	1,961,828	1,662,981	1,320,858	1,051,893	757,386	862,126	926,566	1,002,582	1,181,366
Total current assets	US$ in thousands	927,345	847,186	738,440	754,135	715,872	711,375	634,403	1,006,490	1,071,830	926,891	800,927	536,263	371,305	396,628	333,628	256,864	261,629	237,224	227,283	356,635
Total current liabilities	US$ in thousands	995,357	965,955	856,541	851,341	685,275	722,327	686,972	601,372	575,873	625,189	609,139	537,934	464,837	472,752	422,580	376,412	290,936	286,359	344,769	359,898
Working capital turnover		—	—	—	—	91.73	—	—	7.54	6.17	9.67	13.29	—	—	—	—	—	—	—	—	—

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,504,981K ÷ ($927,345K – $995,357K)
= —

The working capital turnover ratio for Matador Resources Company has fluctuated over the past few years. As of June 30, 2022, the ratio was 13.29, indicating that the company generated $13.29 in revenue for every dollar of working capital invested. This high turnover suggests efficient utilization of working capital to generate sales.

However, the ratio declined to 6.17 as of December 31, 2022, and further decreased to 7.54 by March 31, 2023. These lower values may indicate a slowdown in the company's ability to convert working capital into revenue efficiently.

The most significant change occurred by December 31, 2023, when the working capital turnover ratio spiked to 91.73. This sudden increase suggests a substantial improvement in the company's efficiency in utilizing working capital to generate sales.

The absence of data for several quarters indicates potential irregularities or challenges in calculating the working capital turnover ratio. It would be essential to analyze additional financial information and consider any external factors that might have impacted these fluctuations to gain a more comprehensive understanding of Matador Resources Company's working capital management efficiency.