Murphy USA Inc (MUSA)

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 21,529,400 21,811,100 22,211,500 23,399,400 23,446,100 22,849,200 21,256,200 18,943,300 17,360,500 15,429,900 13,676,300 11,608,700 11,264,300 11,883,100 12,684,200 14,103,500 14,034,600 14,059,600 14,206,200 14,248,000
Total current assets US$ in thousands 826,500 840,300 763,200 711,300 726,800 763,200 882,300 910,800 767,800 826,600 764,700 793,400 625,200 743,200 840,300 602,600 710,800 664,900 656,300 612,900
Total current liabilities US$ in thousands 872,800 827,200 815,300 772,000 854,200 755,500 852,700 840,800 675,300 718,900 696,400 675,000 531,100 513,400 553,700 457,900 505,000 516,900 578,800 533,300
Working capital turnover — 1,664.97 — — — 2,967.43 718.11 270.62 187.68 143.27 200.24 98.05 119.71 51.71 44.26 97.47 68.20 95.00 183.31 178.99

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $21,529,400K ÷ ($826,500K – $872,800K)
= —

The working capital turnover for Murphy USA Inc fluctuated over the past eight quarters. In Q1 2022, the company had a working capital turnover of 270.60, which increased significantly to 717.99 in Q2 2022. The ratio further increased to 2,967.12 in Q3 2022. However, in Q4 2023, the working capital turnover was 1,666.17, indicating a slight decrease compared to the previous quarter.

Overall, Murphy USA Inc has shown variability in its working capital turnover ratio, with notable peaks in Q2 and Q3 of 2022. The working capital turnover measures the efficiency of a company in utilizing its working capital to generate sales revenue. It is essential for the company to maintain a balance between its working capital and sales to ensure smooth operations and financial stability.