Pitney Bowes Inc (PBI)
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 | 3,266,348 | 3,303,461 | 3,350,624 | 3,445,638 | 3,538,042 | 3,613,063 | 3,657,598 | 3,685,306 | 3,673,561 | 3,718,269 | 3,734,718 | 3,673,007 | 3,554,078 | 3,357,001 | 3,255,228 | 3,206,309 | 3,205,125 | 3,231,196 | 3,201,352 | 3,186,317 |
| Total current assets | US$ in thousands | 1,691,920 | 1,617,530 | 1,614,690 | 1,589,300 | 1,798,020 | 1,709,910 | 1,766,950 | 1,742,110 | 1,892,050 | 1,843,260 | 1,898,760 | 1,808,100 | 2,112,560 | 1,922,510 | 2,160,530 | 1,870,190 | 2,236,080 | 2,406,760 | 2,161,860 | 2,227,110 |
| Total current liabilities | US$ in thousands | 1,730,410 | 1,640,530 | 1,856,620 | 1,798,670 | 1,727,800 | 1,598,640 | 1,628,930 | 1,667,250 | 1,727,940 | 1,688,760 | 1,717,240 | 1,594,260 | 1,870,460 | 1,577,910 | 1,678,520 | 1,442,520 | 1,569,690 | 2,145,560 | 1,762,320 | 1,774,760 |
| Working capital turnover | — | — | — | — | 50.39 | 32.47 | 26.50 | 49.23 | 22.38 | 24.07 | 20.57 | 17.18 | 14.68 | 9.74 | 6.75 | 7.50 | 4.81 | 12.37 | 8.01 | 7.04 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,266,348K ÷ ($1,691,920K – $1,730,410K)
= —
The working capital turnover ratio for Pitney Bowes, Inc. was not available for the first four quarters of 2023. However, looking at the historical data, the trend shows fluctuations in the working capital turnover ratio.
In Q4 2022, the working capital turnover ratio was significantly high at 50.39, indicating that the company generated $50.39 of revenue for every dollar of working capital invested during that period. This high turnover suggests efficient management of working capital and a quick conversion of working capital into sales.
In Q3 2022, the ratio decreased to 32.47, indicating a lower efficiency in working capital management compared to the previous quarter but still showing a relatively good turnover.
The ratio further decreased in Q2 2022 to 26.50, signaling a decline in the efficiency of working capital utilization. However, it improved in Q1 2022 to 49.23, coming close to the high turnover seen in Q4 2022.
Overall, the fluctuation in the working capital turnover ratio for Pitney Bowes, Inc. indicates varying levels of efficiency in managing working capital throughout the analyzed quarters. Additional context or comparison with industry benchmarks would be necessary to provide a more comprehensive assessment of the company's working capital management performance.