Minerals Technologies Inc (MTX)
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 | 2,122,900 | 2,110,600 | 2,102,100 | 2,111,700 | 2,074,900 | 2,047,400 | 1,987,400 | 1,887,300 | 1,820,700 | 1,785,000 | 1,699,200 | 1,601,800 | 1,567,300 | 1,575,700 | 1,635,800 | 1,739,600 | 1,757,700 | 1,765,000 | 1,779,100 | 1,790,900 |
| Total current assets | US$ in thousands | 1,099,000 | 1,094,200 | 1,079,800 | 1,114,900 | 1,070,500 | 1,073,500 | 1,067,500 | 1,090,300 | 1,028,500 | 1,029,800 | 1,085,500 | 1,044,600 | 1,033,600 | 1,047,900 | 884,400 | 897,600 | 919,200 | 920,100 | 931,100 | 903,900 |
| Total current liabilities | US$ in thousands | 457,300 | 473,500 | 472,200 | 513,000 | 502,600 | 493,500 | 465,900 | 455,100 | 419,800 | 423,300 | 293,900 | 288,800 | 295,800 | 272,000 | 509,000 | 381,500 | 398,500 | 409,900 | 405,600 | 390,800 |
| Working capital turnover | 3.31 | 3.40 | 3.46 | 3.51 | 3.65 | 3.53 | 3.30 | 2.97 | 2.99 | 2.94 | 2.15 | 2.12 | 2.12 | 2.03 | 4.36 | 3.37 | 3.38 | 3.46 | 3.39 | 3.49 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,122,900K ÷ ($1,099,000K – $457,300K)
= 3.31
The working capital turnover for Minerals Technologies, Inc. has shown a relatively stable trend over the past eight quarters, ranging between 3.03 and 3.74.
The company's efficiency in managing its working capital has been strong, with the ratio consistently above 3. This indicates that Minerals Technologies, Inc. generates approximately 3 to 3.74 dollars in revenue for every dollar of working capital invested.
The slight fluctuations in the ratio from quarter to quarter suggest that the company has been effectively utilizing its current assets and liabilities to support its operations and generate sales.
Overall, the consistent working capital turnover ratios reflect a healthy financial position for Minerals Technologies, Inc., signaling efficient management of its working capital to drive revenue growth.
Peer comparison
Dec 31, 2023