Phibro Animal Health Corporation (PAHC)
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 | 1,296,215 | 1,190,682 | 1,106,080 | 1,046,762 | 1,017,630 | 999,515 | 981,965 | 976,668 | 977,889 | 978,140 | 972,086 | 960,152 | 942,296 | 907,296 | 879,406 | 852,843 | 833,372 | 798,972 | 797,982 | 805,845 |
Total current assets | US$ in thousands | 810,606 | 776,018 | 746,153 | 570,767 | 600,997 | 597,180 | 586,586 | 584,424 | 585,723 | 585,483 | 581,689 | 570,080 | 566,232 | 546,477 | 508,610 | 498,630 | 498,909 | 471,718 | 477,167 | 464,282 |
Total current liabilities | US$ in thousands | 293,473 | 266,481 | 233,250 | 176,894 | 204,148 | 189,072 | 187,735 | 172,355 | 176,000 | 165,308 | 167,569 | 172,499 | 190,832 | 187,102 | 166,628 | 152,586 | 164,116 | 168,891 | 166,903 | 160,952 |
Working capital turnover | 2.51 | 2.34 | 2.16 | 2.66 | 2.56 | 2.45 | 2.46 | 2.37 | 2.39 | 2.33 | 2.35 | 2.41 | 2.51 | 2.52 | 2.57 | 2.46 | 2.49 | 2.64 | 2.57 | 2.66 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,296,215K ÷ ($810,606K – $293,473K)
= 2.51
The analysis of Phibro Animal Health Corporation's working capital turnover ratio over the period from September 2020 through June 2025 reveals a general trend of relative stability with minor fluctuations. Initially, the ratio hovered around 2.66 in September 2020 and gradually exhibited slight decreases, reaching a low of 2.16 by December 2024. This decline suggests a potential increase in working capital relative to sales or a decrease in sales efficiency in utilizing working capital assets.
Notably, the ratio experienced some periods of recovery, such as an increase to 2.46 in December 2024 and further to 2.51 in June 2025, indicating some improvement in the efficiency of working capital utilization in recent periods. The ratio's narrow fluctuations and overall stability imply that the company's management has maintained consistent operational efficiency concerning working capital management. The relatively stable ratios, with minor dips and recoveries, suggest that Phibro Animal Health's asset and liability management have been closely aligned with its revenue-generating activities, maintaining a steady cycle of working capital utilization over the analyzed period.
Peer comparison
Jun 30, 2025