NewJersey Resources Corporation (NJR)

Working capital turnover

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	2,294,073	2,234,507	2,186,229	2,192,587	2,674,367	3,468,262	4,014,136	4,540,009	4,515,989	4,164,967	3,884,509	3,766,679	3,389,416	3,981,548	3,708,295	3,052,065	2,991,428	1,955,697	2,090,606	2,344,402
Total current assets	US$ in thousands	554,595	534,394	553,711	676,958	532,077	520,360	615,972	1,011,820	756,087	740,082	556,036	760,322	634,274	518,258	535,228	609,204	622,332	521,078	500,874	692,611
Total current liabilities	US$ in thousands	887,774	894,347	789,096	962,032	806,603	668,954	711,477	1,066,240	1,104,150	969,434	882,137	1,097,770	1,051,410	613,626	416,066	518,672	533,722	902,259	824,349	805,543
Working capital turnover		—	—	—	—	—	—	—	—	—	—	—	—	—	—	31.12	33.71	33.76	—	—	—

September 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,294,073K ÷ ($554,595K – $887,774K)
= —

The working capital turnover ratio for NewJersey Resources Corporation increased from 31.12 in March 2021 to 33.71 in June 2021 and further increased to 33.76 in September 2021, showing an improvement in the efficiency of utilizing working capital during these periods. However, the data for the later periods are not available for a complete trend analysis.

A high working capital turnover ratio indicates that the company is efficiently using its working capital to generate sales revenue. It signifies that the company is able to quickly convert its current assets into sales, thus reflecting better liquidity management.

Overall, based on the available data, NewJersey Resources Corporation demonstrated an improvement in its working capital turnover ratio, which suggests a positive trend in the company's efficiency in utilizing its working capital to drive sales.