Myers Industries Inc (MYE)

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	813,105	834,363	864,613	889,454	899,773	887,215	859,353	814,341	762,817	700,469	632,519	562,548	510,376	489,727	482,938	498,884	515,785	537,355	546,887	553,041
Total current assets	US$ in thousands	256,621	247,411	256,620	266,779	257,207	267,912	274,639	254,806	219,914	228,558	201,211	190,747	183,730	211,975	198,889	190,632	185,042	187,393	195,266	183,528
Total current liabilities	US$ in thousands	165,107	163,879	164,307	175,209	137,762	153,327	160,051	149,015	132,500	128,045	127,148	113,690	142,247	124,986	120,443	119,755	82,625	89,278	86,565	87,483
Working capital turnover		8.89	9.99	9.37	9.71	7.53	7.74	7.50	7.70	8.73	6.97	8.54	7.30	12.30	5.63	6.16	7.04	5.04	5.48	5.03	5.76

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $813,105K ÷ ($256,621K – $165,107K)
= 8.89

The working capital turnover of Myers Industries Inc. has shown a fluctuating trend over the past eight quarters. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.

In Q4 2023, the working capital turnover was 8.88, a decrease from the previous quarter's ratio of 9.99 in Q3 2023. This signifies that the company generated $8.88 in sales revenue for every dollar of working capital invested during the quarter.

Comparing the figures to the same quarter a year ago, the company has shown improvement as the working capital turnover in Q4 2022 was 7.53. This suggests that Myers Industries Inc. has become more efficient in managing its working capital to generate sales revenue.

Overall, although there have been fluctuations in the working capital turnover ratio, the general trend indicates an improvement in the company's efficiency in utilizing its working capital to generate sales revenue over the past year.