Performance Food Group Co (PFGC)
Working capital turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 63,298,900 | 61,549,200 | 60,100,600 | 58,758,100 | 58,281,200 | 57,957,200 | 57,870,800 | 57,474,000 | 57,254,700 | 56,979,500 | 56,287,200 | 55,227,100 | 50,894,100 | 45,608,500 | 39,732,000 | 33,738,400 | 30,398,900 | 26,868,500 | 26,666,700 | 25,890,100 |
| Total current assets | US$ in thousands | 7,135,100 | 6,788,800 | 6,885,700 | 6,469,700 | 6,153,300 | 5,822,800 | 5,956,300 | 6,172,100 | 6,071,500 | 5,833,000 | 5,807,800 | 5,867,700 | 6,022,000 | 5,568,400 | 5,511,000 | 5,348,800 | 3,580,400 | 3,179,100 | 3,221,200 | 3,468,900 |
| Total current liabilities | US$ in thousands | 4,517,600 | 4,207,100 | 4,127,400 | 3,813,700 | 3,758,100 | 3,540,500 | 3,487,700 | 3,479,400 | 3,553,100 | 3,456,900 | 3,396,000 | 3,573,400 | 3,633,000 | 3,503,900 | 3,393,500 | 3,261,300 | 2,527,200 | 2,312,000 | 2,039,500 | 2,287,900 |
| Working capital turnover | 24.18 | 23.84 | 21.79 | 22.12 | 24.33 | 25.39 | 23.44 | 21.34 | 22.73 | 23.98 | 23.34 | 24.07 | 21.30 | 22.09 | 18.76 | 16.16 | 28.86 | 30.99 | 22.57 | 21.92 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $63,298,900K ÷ ($7,135,100K – $4,517,600K)
= 24.18
The working capital turnover for Performance Food Group Co over the observed period exhibits notable fluctuations, reflecting variations in operational efficiency related to working capital management. Starting at 21.92 times on September 30, 2020, the ratio experienced an upward trend, reaching a peak of 30.99 times on March 31, 2021. This increase indicates an improved utilization of working capital to generate sales during this period, potentially driven by efficient inventory management, receivables collection, and payables management.
Following this peak, the ratio declined to 16.16 times by September 30, 2021, signifying a reduction in working capital efficiency. The subsequent quarters show a modest recovery, with the ratio rising again to around 23.98 times by March 31, 2023, suggesting periods of stabilization and slight improvement in operational efficiency.
From mid-2023 onwards, the ratio shows minor fluctuations within a relatively narrow range of approximately 21.34 to 25.39 times. The highest observed value in this interval is 25.39 times on March 31, 2024, indicating a period of enhanced working capital utilization. The latest data as of September 30, 2025, shows a ratio of 23.84 times, suggesting a modest decrease from recent peaks but still maintaining a relatively high level of working capital turnover compared to earlier periods.
In summary, the trend of Performance Food Group Co's working capital turnover reflects periods of both increasing efficiency and temporary declines, possibly influenced by changes in sales cycles, supply chain dynamics, or management strategies. The overall pattern indicates an operational environment where the company has achieved periods of high working capital utilization, with intermittent fluctuations that warrant further investigation into underlying operational causes.
Peer comparison
Jun 30, 2025