MYR Group Inc (MYRG)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Total current assets | US$ in thousands | 1,026,240 | 890,291 | 748,390 | 636,684 | 639,184 |
| Total current liabilities | US$ in thousands | 747,202 | 666,960 | 498,599 | 443,400 | 396,814 |
| Working capital turnover | 13.06 | 13.47 | 10.01 | 11.62 | 8.53 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,643,180K ÷ ($1,026,240K – $747,202K)
= 13.06
The working capital turnover of MYR Group Inc has shown a fluctuating trend over the past five years. It increased from 8.55 in 2019 to 13.47 in 2022 before declining slightly to 13.06 in 2023. This ratio indicates the efficiency of the company in utilizing its working capital to generate revenue. A higher turnover ratio suggests that the company is effectively managing its working capital to support its operations and generate sales. Overall, MYR Group Inc has shown an ability to efficiently convert its working capital into revenue over the years, with some variations in performance.
Peer comparison
Dec 31, 2023