Par Pacific Holdings Inc (PARR)
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 | 8,174,420 | 7,803,130 | 7,283,650 | 7,602,180 | 7,263,690 | 6,745,960 | 5,998,020 | 5,106,960 | 4,643,589 | 4,081,364 | 3,458,832 | 2,757,379 | 3,072,260 | 3,755,885 | 4,466,717 | 5,356,960 | 5,344,170 | 4,824,152 | 4,340,218 | 3,796,940 |
| Total current assets | US$ in thousands | 1,989,500 | 2,177,750 | 1,893,350 | 1,948,720 | 1,881,840 | 1,738,560 | 1,851,360 | 1,463,760 | 1,130,170 | 1,051,570 | 1,030,680 | 976,738 | 636,469 | 749,126 | 719,765 | 612,515 | 1,032,170 | 1,027,790 | 951,033 | 908,631 |
| Total current liabilities | US$ in thousands | 1,524,600 | 1,939,590 | 1,769,950 | 1,572,360 | 1,794,090 | 1,721,680 | 2,109,940 | 1,828,620 | 1,355,790 | 1,295,240 | 1,369,690 | 1,190,670 | 878,680 | 875,703 | 806,570 | 727,875 | 1,034,320 | 1,051,600 | 974,193 | 948,072 |
| Working capital turnover | 17.58 | 32.76 | 59.02 | 20.20 | 82.78 | 399.64 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $8,174,420K ÷ ($1,989,500K – $1,524,600K)
= 17.58
Par Pacific Holdings Inc's working capital turnover has shown significant fluctuations over the past several quarters. The ratio declined from 83.44 in Q4 2022 to 20.34 in Q1 2023, indicating a decrease in efficiency in utilizing working capital to generate revenue.
However, the ratio rebounded to 59.44 in Q2 2023, showcasing an improvement in the company's ability to convert working capital into revenue. This positive trend continued into Q3 2023 with a working capital turnover of 32.99, signaling a steady performance.
In Q4 2023, the working capital turnover further increased to 17.71, although it remains lower compared to the previous quarters. Overall, the company has experienced fluctuations in its working capital turnover, signifying variability in its working capital efficiency over the periods analyzed.
Peer comparison
Dec 31, 2023