Nucor Corp (NUE)

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	34,713,500	35,732,930	37,458,000	39,729,240	41,512,560	43,153,000	42,965,400	39,960,060	36,483,900	31,379,560	25,994,320	21,532,470	20,139,670	20,011,360	20,547,900	22,116,580	22,588,860	23,752,990	25,030,690	25,595,470
Total current assets	US$ in thousands	16,385,900	15,948,900	15,290,500	14,316,400	14,691,700	14,356,500	14,033,800	14,781,400	12,799,600	12,123,800	12,055,900	10,409,100	9,488,660	8,965,850	8,634,960	7,847,250	8,226,370	8,684,290	8,467,200	8,650,340
Total current liabilities	US$ in thousands	4,594,510	4,283,850	4,004,170	3,829,940	4,329,740	4,632,090	5,359,200	5,133,840	5,157,410	4,797,600	3,879,950	2,970,450	2,627,860	2,373,300	1,965,040	2,218,570	2,463,770	2,585,990	2,380,410	2,568,020
Working capital turnover		2.94	3.06	3.32	3.79	4.01	4.44	4.95	4.14	4.77	4.28	3.18	2.89	2.94	3.04	3.08	3.93	3.92	3.90	4.11	4.21

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $34,713,500K ÷ ($16,385,900K – $4,594,510K)
= 2.94

The working capital turnover ratio for Nucor Corp. has shown a declining trend over the past eight quarters, starting at 4.14 in Q1 2022 and decreasing to 2.94 in Q4 2023. This ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue. A higher ratio suggests that the company is effectively managing its working capital to support sales growth.

The decreasing trend in the working capital turnover ratio could signify inefficiencies in managing the company's working capital or a slowdown in sales relative to the working capital invested. It is important for Nucor Corp. to closely monitor and improve this ratio to ensure optimal utilization of its working capital resources.

Further analysis and comparison with industry benchmarks and competitors' ratios would provide more insights into Nucor Corp.'s working capital management performance and efficiency in generating sales from its working capital.