Patterson Companies Inc (PDCO)
Working capital turnover
| Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 24, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 6,568,270 | 6,566,760 | 6,551,510 | 6,524,940 | 6,471,460 | 6,389,080 | 6,384,830 | 6,407,790 | 6,499,410 | 6,422,430 | 6,377,100 | 6,281,110 | 5,912,070 | 5,636,740 | 5,541,630 | 5,407,200 | 5,490,010 | 5,640,260 | 5,580,840 | 5,566,850 |
| Total current assets | US$ in thousands | 1,778,760 | 1,832,560 | 1,790,680 | 1,772,140 | 1,783,140 | 1,844,710 | 1,825,530 | 1,705,980 | 1,679,020 | 1,790,430 | 1,799,430 | 1,611,480 | 1,615,930 | 1,723,230 | 1,656,260 | 1,460,130 | 1,542,760 | 1,692,670 | 1,687,430 | 1,582,660 |
| Total current liabilities | US$ in thousands | 1,332,550 | 1,283,710 | 1,148,540 | 1,087,750 | 1,085,330 | 1,173,710 | 1,143,820 | 1,043,560 | 1,015,670 | 1,132,100 | 1,193,050 | 1,067,880 | 1,089,670 | 1,200,890 | 1,072,890 | 978,784 | 1,074,900 | 1,201,460 | 1,061,430 | 874,227 |
| Working capital turnover | 14.72 | 11.96 | 10.20 | 9.53 | 9.27 | 9.52 | 9.37 | 9.67 | 9.80 | 9.76 | 10.52 | 11.55 | 11.23 | 10.79 | 9.50 | 11.23 | 11.73 | 11.48 | 8.92 | 7.86 |
April 27, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,568,270K ÷ ($1,778,760K – $1,332,550K)
= 14.72
Patterson Companies Inc has shown a varying trend in its working capital turnover ratio over the past few quarters. The company's working capital turnover has ranged from 7.86 to 14.72 over the analyzed period.
The working capital turnover measures the efficiency of a company in utilizing its working capital to generate revenues. A higher turnover ratio indicates that the company is efficiently using its working capital to generate sales. Patterson Companies Inc's working capital turnover has generally been healthy, with values consistently above 9.0.
The upward trend in the working capital turnover from 2021 to 2024 suggests that the company has improved its efficiency in converting working capital into sales. However, a slight dip in the most recent quarter compared to the previous quarter raises the question of whether the company is facing challenges in managing its working capital efficiently.
It would be important to further analyze the reasons behind these fluctuations and assess the impact on the company's overall financial performance and operational efficiency.
Peer comparison
Apr 27, 2024