Materion Corporation (MTRN)

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	1,633,620	1,648,357	1,675,646	1,725,472	1,735,899	2,803,789	2,384,788	1,947,417	1,504,455	348,644	352,178	357,767	364,481	304,953	315,512	325,994	333,810	351,719	347,825	339,962
Total current assets	US$ in thousands	709,382	709,592	697,833	699,854	690,448	709,664	706,968	672,912	627,252	556,493	516,565	494,755	463,999	504,423	656,444	478,784	537,747	475,617	454,416	434,846
Total current liabilities	US$ in thousands	254,995	217,205	233,250	245,817	238,964	202,290	210,225	201,461	204,509	172,769	161,227	147,435	126,884	251,626	268,528	113,670	122,440	126,975	125,037	131,156
Working capital turnover		3.60	3.35	3.61	3.80	3.84	5.53	4.80	4.13	3.56	0.91	0.99	1.03	1.08	1.21	0.81	0.89	0.80	1.01	1.06	1.12

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,633,620K ÷ ($709,382K – $254,995K)
= 3.60

Materion Corp's working capital turnover has shown fluctuations over the past eight quarters, ranging from 3.38 to 3.89. The working capital turnover measures how effectively a company is utilizing its working capital to generate revenues. A higher working capital turnover ratio indicates that the company is efficiently managing its working capital to generate sales.

In this case, Materion Corp's working capital turnover has generally been stable, with occasional fluctuations. The company's working capital turnover averaged 3.56 over the eight quarters provided. This suggests that Materion Corp is effectively using its working capital to support its operations and generate revenue.

Overall, based on the trend and average figure, Materion Corp appears to be efficiently managing its working capital to drive sales, although minor fluctuations in the ratio should be monitored to ensure ongoing operational efficiency.