Patterson Companies Inc (PDCO)
Working capital turnover
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,568,270 | 6,471,470 | 6,499,400 | 5,912,070 | 5,490,010 |
| Total current assets | US$ in thousands | 1,778,760 | 1,783,140 | 1,679,020 | 1,615,930 | 1,542,760 |
| Total current liabilities | US$ in thousands | 1,332,550 | 1,085,330 | 1,015,670 | 1,089,670 | 1,074,900 |
| Working capital turnover | 14.72 | 9.27 | 9.80 | 11.23 | 11.73 |
April 27, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,568,270K ÷ ($1,778,760K – $1,332,550K)
= 14.72
Patterson Companies Inc's working capital turnover has exhibited fluctuations over the past five years. The ratio, which measures the efficiency of using working capital to generate revenue, increased from 11.73 in 2020 to 14.72 in 2024, indicating a notable improvement in utilizing working capital during this period. However, there was some variability in the ratio in the intervening years, reaching a peak of 11.23 in 2021 and then declining to 9.27 in 2023 before the significant increase in 2024. Overall, the trend suggests that Patterson Companies Inc has been able to effectively leverage its working capital to support sales growth in recent years, as evidenced by the generally increasing turnover ratio.
Peer comparison
Apr 27, 2024