Murphy Oil Corporation (MUR)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,460,150	3,932,700	2,299,300	1,967,300	2,829,050
Total current assets	US$ in thousands	752,194	972,325	880,910	1,000,290	974,327
Total current liabilities	US$ in thousands	846,545	1,257,830	1,164,330	716,321	942,789
Working capital turnover		—	—	—	6.93	89.70

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,460,150K ÷ ($752,194K – $846,545K)
= —

The working capital turnover ratio for Murphy Oil Corp. was not available for the years 2023, 2022, and 2021. However, in 2020, the working capital turnover was 6.88, which decreased significantly from 89.30 in 2019. This decline indicates that the company was less efficient in using its working capital to generate sales in 2020 compared to 2019. It may suggest issues with managing inventory, accounts receivable, or accounts payable during that period. Unfortunately, without data for the following years, it is challenging to assess if this trend continued or if there were improvements in the company's working capital management thereafter.