Newmont Goldcorp Corp (NEM)
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 | 11,635,000 | 10,897,000 | 11,038,000 | 11,451,000 | 11,807,000 | 12,044,000 | 12,312,000 | 12,300,000 | 12,171,000 | 12,135,000 | 12,371,000 | 11,608,000 | 11,286,000 | 10,998,000 | 10,564,000 | 10,515,000 | 9,743,000 | 8,824,000 | 7,852,000 | 7,267,000 |
| Total current assets | US$ in thousands | 7,512,000 | 5,955,000 | 6,134,000 | 6,559,000 | 6,515,000 | 6,320,000 | 6,907,000 | 7,059,000 | 7,696,000 | 7,472,000 | 7,445,000 | 8,364,000 | 8,505,000 | 7,660,000 | 6,684,000 | 6,455,000 | 6,272,000 | 5,698,000 | 4,638,000 | 5,397,000 |
| Total current liabilities | US$ in thousands | 5,998,000 | 2,808,000 | 2,693,000 | 2,752,000 | 2,926,000 | 2,324,000 | 2,451,000 | 2,417,000 | 2,654,000 | 2,799,000 | 2,787,000 | 3,480,000 | 3,369,000 | 2,703,000 | 2,378,000 | 1,952,000 | 2,385,000 | 2,611,000 | 2,538,000 | 1,815,000 |
| Working capital turnover | 7.68 | 3.46 | 3.21 | 3.01 | 3.29 | 3.01 | 2.76 | 2.65 | 2.41 | 2.60 | 2.66 | 2.38 | 2.20 | 2.22 | 2.45 | 2.34 | 2.51 | 2.86 | 3.74 | 2.03 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $11,635,000K ÷ ($7,512,000K – $5,998,000K)
= 7.68
The working capital turnover of Newmont Corp has shown variability over the past eight quarters. It reflects how efficiently the company is utilizing its working capital to generate revenue. A higher turnover ratio indicates that the company is able to generate more revenue per unit of working capital.
In Q4 2023, Newmont Corp achieved a working capital turnover of 7.80, which is significantly higher than the previous quarters. This indicates that the company was able to generate revenue nearly eight times the amount of its working capital during that period. This could be a result of effective management of current assets and liabilities to support revenue generation.
In Q3 2023, the working capital turnover decreased to 3.51 from the previous quarter, but remained relatively higher compared to previous quarters in 2022. This suggests a slight drop in efficiency in utilizing working capital to generate revenue.
Overall, Newmont Corp has shown an improving trend in its working capital turnover ratio since Q1 2022. It is important for the company to maintain efficient working capital management in order to sustain this positive trend and continue optimizing its financial performance.
See also:
Newmont Goldcorp Corp Working Capital Turnover (Quarterly Data)