O-I Glass Inc (OI)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,531,000 | 7,105,000 | 6,615,000 | 6,138,000 | 6,097,000 |
| Total current assets | US$ in thousands | 2,478,000 | 2,884,000 | 2,603,000 | 2,519,000 | 2,297,000 |
| Total current liabilities | US$ in thousands | 2,160,000 | 2,346,000 | 2,357,000 | 1,846,000 | 1,898,000 |
| Working capital turnover | 20.54 | 13.21 | 26.89 | 9.12 | 15.28 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,531,000K ÷ ($2,478,000K – $2,160,000K)
= 20.54
The working capital turnover ratio for O-I Glass Inc has shown fluctuations over the past five years. In 2020, the ratio was 15.28, indicating that the company was able to turn over its working capital 15.28 times during the year. This ratio decreased to 9.12 in 2021, suggesting a lower efficiency in managing working capital. However, there was a significant improvement in 2022, with the ratio jumping to 26.89, showcasing a strong ability to efficiently utilize working capital.
In 2023, the ratio decreased to 13.21, indicating a slight decline in working capital efficiency compared to the previous year. Finally, in 2024, the working capital turnover ratio further increased to 20.54, signifying an improvement in the company's ability to generate sales from its working capital.
Overall, the fluctuation in the working capital turnover ratio for O-I Glass Inc indicates variability in the company's efficiency in utilizing its working capital to support its operations and generate revenue over the years.