News Corp A (NWSA)
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 A’s working capital turnover ratio from September 2020 through June 2025 reveals notable fluctuations. Initially, the ratio was relatively high, at 12.60 times as of September 30, 2020, indicating efficient utilization of working capital to generate sales. The ratio experienced a gradual decline over the subsequent periods, reaching a low of 7.35 times by December 2021, which may suggest reduced efficiency or increased working capital levels relative to sales.
Significant variability is observed in 2022 and 2023, with the ratio rising notably to 16.07 times by March 2022 and reaching a peak of 18.09 times in June 2022, signaling improved efficiency or lowered working capital relative to sales. However, this trend reverses markedly thereafter, as the ratio decreases to 13.98 by September 2022 and continues fluctuating around the 12 to 7 range through 2023 and early 2024.
From late 2024 onward, a pronounced decline is evident, with the ratio dropping sharply to 3.45 in December 2024 and further to 3.41 and 3.84 in the subsequent quarters. This substantial reduction indicates a significant decrease in the efficiency of working capital utilization relative to sales, possibly due to increased working capital requirements, lower sales efficiency, or operational changes.
Overall, the trend demonstrates a period of relative efficiency in the early to mid-2020s, followed by a marked decline in working capital turnover in late 2024 and into 2025. This shift suggests potential challenges in translating working capital into revenue effectively, highlighting the importance of further investigation into underlying operational factors and working capital management strategies during this timeframe.
Peer comparison
Jun 30, 2025