ServiceNow Inc (NOW)

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	8,971,000	8,474,000	8,017,000	7,619,000	7,245,000	6,919,000	6,600,000	6,257,000	5,895,000	5,531,000	5,171,000	4,833,000	4,519,000	4,220,337	3,954,170	3,717,074	3,460,000	3,224,104	3,011,368	2,808,520
Total current assets	US$ in thousands	7,777,000	6,046,000	6,603,000	6,734,000	6,654,000	5,476,000	5,332,000	5,442,000	5,220,000	4,288,000	4,225,000	4,524,000	4,522,000	3,966,880	3,337,120	2,805,860	2,826,900	2,297,210	2,442,290	2,374,490
Total current liabilities	US$ in thousands	7,365,000	5,601,000	5,767,000	5,761,000	6,005,000	4,432,000	4,743,000	4,852,000	4,949,000	3,792,000	3,908,000	3,664,000	3,737,000	2,835,950	2,848,870	2,721,060	2,752,780	2,192,560	2,224,980	2,097,840
Working capital turnover		21.77	19.04	9.59	7.83	11.16	6.63	11.21	10.61	21.75	11.15	16.31	5.62	5.76	3.73	8.10	43.83	46.68	30.81	13.86	10.15

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $8,971,000K ÷ ($7,777,000K – $7,365,000K)
= 21.77

ServiceNow Inc's working capital turnover has fluctuated over the past eight quarters, ranging from 6.63 to 21.77. The higher turnover ratios in the most recent quarters indicate that the company is efficiently using its working capital to generate revenue. This could imply that ServiceNow is effectively managing its current assets and liabilities to support its operations and growth. However, the lower ratios in the middle of the period may suggest a less efficient use of working capital during that time. Overall, the trend in the most recent quarters reflects a positive efficiency in the company's working capital management.