Oceaneering International Inc (OII)

Working capital turnover

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 Jun 30, 2020 Mar 31, 2020
Revenue (ttm) US$ in thousands 2,661,161 2,602,340 2,557,709 2,486,811 2,424,706 2,306,300 2,230,791 2,156,912 2,066,084 1,996,570 1,903,713 1,877,881 1,869,275 1,826,828 1,799,757 1,728,774 1,827,889 1,964,437 2,022,341 2,090,906
Total current assets US$ in thousands 1,387,900 1,411,100 1,337,130 1,237,490 1,305,660 1,458,590 1,375,320 1,305,290 1,297,060 1,219,740 1,147,760 1,142,720 1,188,000 1,185,140 1,228,880 1,161,520 1,170,260 1,125,820 1,131,910 1,151,910
Total current liabilities US$ in thousands 796,938 800,143 776,945 703,378 732,476 800,474 615,044 575,228 568,414 515,725 472,739 465,435 501,161 451,246 479,523 416,743 437,116 431,175 452,444 485,733
Working capital turnover 4.50 4.26 4.57 4.66 4.23 3.50 2.93 2.95 2.84 2.84 2.82 2.77 2.72 2.49 2.40 2.32 2.49 2.83 2.98 3.14

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,661,161K ÷ ($1,387,900K – $796,938K)
= 4.50

The working capital turnover of Oceaneering International Inc has shown fluctuations over the period from March 31, 2020, to December 31, 2024.

The working capital turnover ratio indicates how efficiently the company is using its working capital to generate sales. A higher turnover ratio generally indicates that the company is effectively utilizing its working capital to generate revenue.

Oceaneering International Inc's working capital turnover decreased from 3.14 on March 31, 2020, to 2.49 on December 31, 2020. This suggests a potential decrease in the company's ability to efficiently convert working capital into sales during this period.

Subsequently, the working capital turnover ratio improved gradually from 2.49 on December 31, 2020, to 4.50 on December 31, 2024. This upward trend indicates that the company has been able to enhance its efficiency in utilizing working capital to generate revenue over the years.

The working capital turnover ratio peaking at 4.66 on March 31, 2024, before slightly decreasing to 4.57 on June 30, 2024, and further to 4.26 on September 30, 2024, can be a sign of short-term fluctuations in the company's working capital management.

Overall, the trend in Oceaneering International Inc's working capital turnover ratio shows both improvement and variability, suggesting a mix of effective working capital management and potential areas for further optimization.