NewJersey Resources Corporation (NJR)

Working capital turnover

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Revenue	US$ in thousands	2,674,370	4,515,980	3,389,420	2,991,430	2,543,480
Total current assets	US$ in thousands	532,077	756,087	634,274	622,332	511,606
Total current liabilities	US$ in thousands	806,603	1,104,150	1,051,410	533,722	446,377
Working capital turnover		—	—	—	33.76	38.99

September 30, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,674,370K ÷ ($532,077K – $806,603K)
= —

As per the data provided, the working capital turnover for New Jersey Resources Corporation was not available for the most recent years, indicating that the specific figure was not disclosed or calculated for those periods. However, for the years ended September 30, 2020 and 2019, the working capital turnover was 22.05 and 39.74, respectively.

The working capital turnover ratio measures how efficiently a company is using its working capital to generate sales. A higher turnover indicates that the company is effectively utilizing its working capital to generate revenue. In the case of New Jersey Resources Corporation, the decrease in the working capital turnover from 2019 to 2020 suggests a potential decrease in the efficiency of working capital utilization to generate sales.

It is essential to note that without the working capital turnover data for 2021, 2022, and 2023, it is challenging to assess the trend and draw comprehensive conclusions regarding the company's recent working capital management efficiency. Additional information for the more recent years would be necessary to perform a thorough analysis of the company's working capital turnover.