Mueller Water Products (MWA)
Working capital turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,314,700 | 1,275,700 | 1,247,400 | 1,111,000 | 964,100 |
| Total current assets | US$ in thousands | 858,400 | 706,800 | 680,000 | 653,700 | 581,200 |
| Total current liabilities | US$ in thousands | 258,000 | 218,800 | 241,000 | 220,100 | 155,000 |
| Working capital turnover | 2.19 | 2.61 | 2.84 | 2.56 | 2.26 |
September 30, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,314,700K ÷ ($858,400K – $258,000K)
= 2.19
The working capital turnover ratio of Mueller Water Products demonstrates a general upward trend from September 30, 2020, through September 30, 2022, moving from 2.26 to 2.84. This increase suggests that the company became more efficient in utilizing its working capital to generate sales during this period. However, subsequent data indicates a decline in the ratio, dropping to 2.61 on September 30, 2023, and further decreasing to 2.19 by September 30, 2024. The decline in the recent period may reflect a reduction in sales efficiency relative to working capital or potential changes in the company's operational structure or asset management. Overall, the initial improvement followed by a decline highlights a shift in operational efficiency over the analyzed years, with the most recent figures indicating a less effective utilization of working capital to generate revenue.
Peer comparison
Sep 30, 2024