MYR Group Inc (MYRG)
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 | 3,643,182 | 3,503,201 | 3,363,351 | 3,182,690 | 3,007,357 | 2,790,230 | 2,601,725 | 2,543,615 | 2,499,388 | 2,461,226 | 2,457,936 | 2,320,105 | 2,245,418 | 2,208,523 | 2,183,497 | 2,119,856 | 2,069,209 | 1,944,479 | 1,761,776 | 1,652,918 |
| Total current assets | US$ in thousands | 1,026,240 | 1,032,280 | 940,201 | 848,342 | 890,291 | 834,858 | 784,410 | 715,595 | 748,390 | 700,635 | 691,329 | 665,366 | 636,684 | 658,762 | 594,916 | 628,802 | 639,184 | 639,415 | 513,379 | 505,756 |
| Total current liabilities | US$ in thousands | 747,202 | 740,651 | 684,560 | 624,845 | 666,960 | 585,014 | 565,406 | 498,264 | 498,599 | 455,701 | 469,879 | 447,824 | 443,400 | 459,554 | 403,534 | 378,244 | 396,814 | 393,521 | 304,100 | 293,560 |
| Working capital turnover | 13.06 | 12.01 | 13.16 | 14.24 | 13.47 | 11.17 | 11.88 | 11.70 | 10.01 | 10.05 | 11.10 | 10.67 | 11.62 | 11.09 | 11.41 | 8.46 | 8.54 | 7.91 | 8.42 | 7.79 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,643,182K ÷ ($1,026,240K – $747,202K)
= 13.06
The working capital turnover ratio for MYR Group Inc has shown a generally positive trend over the past eight quarters, fluctuating between 11.17 and 14.24. This ratio measures the efficiency of the company in utilizing its working capital to generate revenue. Higher ratios indicate that the company is effectively utilizing its working capital to generate sales.
In Q1 2023, MYR Group Inc achieved a working capital turnover ratio of 14.24, the highest among the quarters analyzed. This indicates that the company generated $14.24 in revenue for every dollar of working capital invested during that period, reflecting strong efficiency in utilizing its current assets to drive sales.
Although there was some variability in the ratio from quarter to quarter, with Q3 2022 showing the lowest ratio of 11.17, the overall trend suggests that MYR Group Inc has been effectively managing its working capital to drive sales growth.
Overall, the increasing trend in the working capital turnover ratio indicates that MYR Group Inc has been successful in maximizing the efficiency of its working capital in generating revenue over the past eight quarters.
Peer comparison
Dec 31, 2023