Patrick Industries Inc (PATK)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,715,680 | 3,468,040 | 4,881,870 | 4,078,090 | 2,486,600 |
| Total current assets | US$ in thousands | 822,617 | 734,631 | 909,904 | 974,075 | 528,063 |
| Total current liabilities | US$ in thousands | 353,615 | 308,496 | 367,240 | 432,777 | 227,389 |
| Working capital turnover | 7.92 | 8.14 | 9.00 | 7.53 | 8.27 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,715,680K ÷ ($822,617K – $353,615K)
= 7.92
Based on the data provided, the working capital turnover of Patrick Industries Inc has been consistently fluctuating over the past five years. The trend indicates that the company efficiently utilizes its working capital to generate revenue.
In 2022, the working capital turnover ratio increased significantly to 9.00, indicating that the company was able to generate $9.00 in revenue for every $1 of working capital invested. This suggests a more efficient management of working capital during that year.
However, in 2024, the working capital turnover decreased to 7.92, indicating a slight decrease in efficiency in utilizing working capital to generate sales revenue compared to the previous year.
Overall, while there have been fluctuations in the working capital turnover ratio over the years, the company has generally maintained a relatively high level of efficiency in utilizing its working capital to generate revenue.
Peer comparison
Dec 31, 2024