Norfolk Southern Corporation (NSC)
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 | 11,434,000 | 11,616,000 | 11,993,000 | 12,263,000 | 12,053,000 | 11,680,000 | 11,202,000 | 10,760,000 | 10,496,000 | 10,382,000 | 10,045,000 | 9,336,000 | 9,324,000 | 9,441,000 | 9,781,000 | 10,624,000 | 10,844,000 | 11,050,000 | 11,164,000 | 11,159,000 |
| Total current assets | US$ in thousands | 3,271,000 | 3,142,000 | 2,031,000 | 2,122,000 | 2,007,000 | 2,715,000 | 2,857,000 | 3,015,000 | 2,167,000 | 2,722,000 | 3,012,000 | 2,303,000 | 2,318,000 | 2,579,000 | 2,350,000 | 2,002,000 | 2,081,000 | 2,016,000 | 1,914,000 | 1,922,000 |
| Total current liabilities | US$ in thousands | 2,632,000 | 2,914,000 | 2,986,000 | 2,824,000 | 2,649,000 | 2,798,000 | 2,609,000 | 3,147,000 | 2,521,000 | 2,410,000 | 2,796,000 | 2,249,000 | 2,160,000 | 2,005,000 | 1,935,000 | 2,236,000 | 2,300,000 | 2,761,000 | 2,451,000 | 2,885,000 |
| Working capital turnover | 17.89 | 50.95 | — | — | — | — | 45.17 | — | — | 33.28 | 46.50 | 172.89 | 59.01 | 16.45 | 23.57 | — | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $11,434,000K ÷ ($3,271,000K – $2,632,000K)
= 17.89
The working capital turnover for Norfolk Southern Corp. in Q4 2023 was 19.02, indicating that the company generated $19.02 in revenue for every dollar of working capital invested during that period. This ratio decreased significantly from the previous quarter (Q3 2023) where the turnover was 54.04.
It is worth noting that in Q2 and Q1 of 2022, the working capital turnover was not available. However, looking back at Q4 2022, the company had a working capital turnover of 47.86, which was higher than the current quarter's figure.
Overall, the decreasing trend in working capital turnover from Q3 to Q4 2023 may suggest that Norfolk Southern Corp. is becoming less efficient in generating revenue from its working capital. Further analysis and comparison with industry benchmarks would provide more insights into the company's efficiency in managing its working capital.
Peer comparison
Dec 31, 2023
See also:
Norfolk Southern Corporation Working Capital Turnover (Quarterly Data)