MYR Group Inc (MYRG)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,362,290 | 3,643,900 | 3,008,540 | 2,498,290 | 2,247,390 |
| Total current assets | US$ in thousands | 1,014,660 | 1,026,240 | 890,291 | 748,390 | 636,684 |
| Total current liabilities | US$ in thousands | 748,900 | 747,202 | 666,960 | 498,599 | 443,400 |
| Working capital turnover | 12.65 | 13.06 | 13.47 | 10.00 | 11.63 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,362,290K ÷ ($1,014,660K – $748,900K)
= 12.65
The working capital turnover of MYR Group Inc has demonstrated some fluctuations over the five-year period from December 31, 2020, to December 31, 2024. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.
The working capital turnover decreased from 11.63 in December 2020 to 10.00 in December 2021, which may suggest a less effective utilization of working capital during that period. However, the ratio then displayed an increasing trend, reaching 13.47 in December 2022, 13.06 in December 2023, and 12.65 in December 2024.
This improvement in the working capital turnover ratio from 2021 to 2024 indicates that MYR Group Inc has been able to enhance its efficiency in converting working capital into sales revenue, reflecting better management of its current assets and liabilities. The company seems to have optimized its working capital usage, potentially leading to increased operational efficiency and profitability over the period under consideration.
Peer comparison
Dec 31, 2024