NewJersey Resources Corporation (NJR)

Working capital turnover

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Revenue	US$ in thousands	2,357,170	2,674,370	4,515,980	3,389,420	2,991,430
Total current assets	US$ in thousands	554,595	532,077	756,087	634,274	622,332
Total current liabilities	US$ in thousands	887,774	806,603	1,104,150	1,051,410	533,722
Working capital turnover		—	—	—	—	33.76

September 30, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,357,170K ÷ ($554,595K – $887,774K)
= —

The working capital turnover ratio for NewJersey Resources Corporation has not been provided for the years 2024, 2023, 2022, and 2021. However, for the year ending September 30, 2020, the working capital turnover was 33.76 times. This signifies that the company generated 33.76 times revenue from its working capital during the fiscal year 2020. In essence, for every dollar of working capital invested, the company generated $33.76 in revenue. This high turnover ratio indicates that NewJersey Resources Corporation efficiently utilizes its working capital to generate sales. However, without data for the other years, it is challenging to assess the trend and determine if this efficiency has been consistent over time.