News Corp B (NWS)
Working capital turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 8,452,000 | 9,401,000 | 9,386,000 | 9,283,000 | 9,205,000 | 9,061,000 | 9,514,000 | 9,900,000 | 9,879,000 | 10,120,000 | 10,165,000 | 10,361,000 | 10,385,000 | 10,203,000 | 10,046,000 | 9,743,000 | 9,358,000 | 8,789,000 | 8,720,000 | 8,785,000 |
| Total current assets | US$ in thousands | 4,811,000 | 6,841,000 | 6,452,000 | 4,506,000 | 4,372,000 | 4,128,000 | 4,003,000 | 3,969,000 | 4,053,000 | 4,032,000 | 3,763,000 | 3,754,000 | 4,093,000 | 4,162,000 | 4,599,000 | 4,372,000 | 4,456,000 | 3,943,000 | 3,596,000 | 3,435,000 |
| Total current liabilities | US$ in thousands | 2,608,000 | 4,081,000 | 3,730,000 | 3,269,000 | 3,055,000 | 3,042,000 | 2,784,000 | 3,037,000 | 3,165,000 | 3,204,000 | 2,939,000 | 3,013,000 | 3,519,000 | 3,527,000 | 3,233,000 | 3,272,000 | 3,234,000 | 3,169,000 | 2,861,000 | 2,738,000 |
| Working capital turnover | 3.84 | 3.41 | 3.45 | 7.50 | 6.99 | 8.34 | 7.80 | 10.62 | 11.12 | 12.22 | 12.34 | 13.98 | 18.09 | 16.07 | 7.35 | 8.86 | 7.66 | 11.36 | 11.86 | 12.60 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $8,452,000K ÷ ($4,811,000K – $2,608,000K)
= 3.84
The analysis of News Corp B's working capital turnover over the specified periods reveals significant variation indicative of fluctuating operational efficiency.
Initially, the ratio demonstrates relatively high values around 12.60 as of September 2020, gradually declining through 2020, reaching approximately 7.66 by June 2021, which suggests a decreasing efficiency in utilizing working capital to generate sales. The ratio slightly recovers to 8.86 by September 2021 but declines again, reaching a low of 7.35 in December 2021, indicating potential challenges in working capital management during that interval.
In 2022, the ratio exhibits notable improvement, with a peak at 18.09 in June, suggesting enhanced efficiency in converting working capital into sales. This period indicates an optimal operational state, possibly due to better inventory management, receivables collection, or payables management.
However, from late 2022 onwards, a marked downward trend emerges, with ratios dropping to 13.98 by September 2022 and subsequently fluctuating downward—to 12.34 at year-end 2022, and further to values around 12.22 and 11.12 through the first half of 2023. The ratio declines sharply in the subsequent periods, reaching a low of approximately 3.41 to 3.84 from late 2024 onward, reflecting deteriorations in working capital efficiency.
Overall, the pattern indicates that while News Corp B experienced periods of strong working capital utilization, recent years have exhibited declining ratios, potentially signaling increasing challenges in managing current assets and liabilities efficiently or a strategic shift reducing short-term operational leverage. The substantial decrease in the ratio in later periods suggests the company is generating less sales relative to its working capital base, warranting further investigation into underlying operational or financial structural changes.
Peer comparison
Jun 30, 2025