Penske Automotive Group Inc (PAG)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 29,451,800 | 29,195,100 | 28,674,800 | 28,137,700 | 27,795,800 | 27,098,900 | 26,694,800 | 26,777,500 | 25,577,100 | 25,052,000 | 24,527,000 | 21,190,400 | 20,425,800 | 20,532,600 | 20,522,100 | 22,620,300 | 23,169,200 | 22,727,100 | 22,418,100 | 22,602,600 |
| Total current assets | US$ in thousands | 5,679,700 | 4,978,600 | 5,086,400 | 4,822,900 | 4,664,200 | 4,210,300 | 4,132,300 | 4,265,900 | 4,075,400 | 3,576,700 | 4,142,300 | 4,358,900 | 4,408,800 | 4,349,400 | 4,418,400 | 5,396,100 | 5,334,100 | 5,187,500 | 5,075,300 | 5,283,200 |
| Total current liabilities | US$ in thousands | 5,657,900 | 4,949,100 | 5,068,500 | 4,760,900 | 4,713,100 | 4,313,400 | 4,214,800 | 4,413,200 | 4,274,600 | 3,836,700 | 4,402,500 | 4,588,700 | 4,674,900 | 4,108,500 | 4,689,500 | 5,229,300 | 5,451,000 | 5,346,500 | 5,169,900 | 5,376,100 |
| Working capital turnover | 1,351.00 | 989.66 | 1,601.94 | 453.83 | — | — | — | — | — | — | — | — | — | 85.23 | — | 135.61 | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $29,451,800K ÷ ($5,679,700K – $5,657,900K)
= 1,351.00
Based on the data provided for Penske Automotive Group Inc's working capital turnover, we observe varying levels across different quarters. In Q4 2023, the working capital turnover ratio stands at 1,354.47, indicating that the company generated $1,354.47 in net sales revenue for every dollar of working capital invested.
Comparing this to the previous quarters, we can see fluctuations in performance. Prior to Q4 2023, the working capital turnover ratios were 992.11 in Q3 2023, 1,605.59 in Q2 2023, and 454.49 in Q1 2023.
Notably, Q2 2023 had the highest working capital turnover ratio of 1,605.59, suggesting efficient utilization of working capital during that period. Conversely, Q1 2023 had the lowest ratio at 454.49, indicating lower sales generated relative to working capital.
It is also worth noting that data for the same metric is not available for the corresponding quarters in 2022, which limits our ability to provide a comprehensive trend analysis. However, based on the available data, Penske Automotive Group Inc experienced fluctuations in its working capital turnover, implying varying levels of efficiency in utilizing its working capital to generate sales revenue during the specified quarters.
Peer comparison
Dec 31, 2023