Oshkosh Corporation (OSK)

Working capital turnover

		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	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
Revenue (ttm)	US$ in thousands	10,500,700	10,283,200	9,871,600	9,599,300	9,351,500	8,915,100	8,564,200	8,249,100	8,098,100	8,239,400	8,063,100	7,692,100	7,423,700	6,795,700	6,693,900	6,813,900	7,225,400	8,036,800	8,251,000	8,369,800
Total current assets	US$ in thousands	5,058,000	5,042,300	4,731,500	4,480,800	4,490,700	4,386,800	4,413,600	4,532,100	4,116,900	4,053,300	4,293,800	4,562,000	4,292,100	3,981,100	3,749,400	3,535,800	3,453,400	3,533,600	3,230,600	3,408,300
Total current liabilities	US$ in thousands	3,457,600	3,491,700	3,319,500	3,089,600	3,090,200	2,418,000	2,458,600	2,428,600	2,272,900	2,338,800	2,446,300	2,151,700	2,047,500	1,902,500	1,711,500	1,585,100	1,629,300	1,805,000	1,509,200	1,741,900
Working capital turnover		6.56	6.63	6.99	6.90	6.68	4.53	4.38	3.92	4.39	4.81	4.36	3.19	3.31	3.27	3.28	3.49	3.96	4.65	4.79	5.02

September 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $10,500,700K ÷ ($5,058,000K – $3,457,600K)
= 6.56

The working capital turnover ratio for Oshkosh Corporation has been fluctuating over the past few quarters. It measures how efficiently the company is utilizing its working capital to generate sales revenue.

In the most recent quarter, Oshkosh Corporation had a working capital turnover of 6.56, indicating that the company generated $6.56 in sales for every dollar of working capital employed. This was slightly lower than the previous quarter's ratio of 6.63.

Looking at the trend over the past few quarters, there was an evident improvement in efficiency as the ratio increased from 3.19 in the first quarter of 2022 to the current level. This indicates that the company has been able to optimize its working capital management to generate more sales and potentially improve its cash flow.

However, it's important to note that the working capital turnover ratio is just one aspect of a company's overall financial performance and should be interpreted in conjunction with other financial metrics for a comprehensive analysis of Oshkosh Corporation's financial health and operational efficiency.