ePlus inc (PLUS)
Working capital turnover
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,225,302 | 2,163,018 | 2,277,439 | 2,183,534 | 2,067,718 | 2,027,060 | 1,898,418 | 1,862,729 | 1,821,019 | 1,722,107 | 1,654,877 | 1,629,941 | 1,568,323 | 1,582,192 | 1,583,579 | 1,562,063 | 1,588,404 | 1,547,362 | 1,464,035 | 1,397,513 |
| Total current assets | US$ in thousands | 1,273,530 | 1,219,310 | 1,269,230 | 1,276,130 | 1,095,130 | 1,293,440 | 1,069,910 | 985,343 | 897,482 | 960,551 | 829,566 | 774,198 | 777,594 | 826,652 | 768,029 | 806,832 | 649,798 | 690,007 | 641,559 | 626,232 |
| Total current liabilities | US$ in thousands | 656,990 | 631,463 | 700,368 | 800,786 | 561,326 | 793,577 | 607,311 | 533,972 | 460,036 | 567,413 | 475,625 | 446,405 | 459,364 | 531,038 | 476,493 | 519,560 | 386,639 | 439,490 | 421,499 | 407,420 |
| Working capital turnover | 3.61 | 3.68 | 4.00 | 4.59 | 3.87 | 4.06 | 4.10 | 4.13 | 4.16 | 4.38 | 4.68 | 4.97 | 4.93 | 5.35 | 5.43 | 5.44 | 6.04 | 6.18 | 6.65 | 6.39 |
March 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,225,302K ÷ ($1,273,530K – $656,990K)
= 3.61
The working capital turnover ratio for ePlus inc has shown a general upward trend over the past few quarters, indicating an improvement in the company's ability to efficiently utilize its working capital to generate revenues. The ratio has consistently been above 3, reflecting that the company is generating sales well in excess of its working capital investment.
The working capital turnover ratio has fluctuated between 3.61 and 6.65 over the period shown in the table. The higher turnover ratios in recent quarters suggest that ePlus inc has been more effective in managing its working capital resources to support its sales activities.
Overall, the increasing trend in the working capital turnover ratio indicates that ePlus inc has been able to optimize the management of its current assets and liabilities to drive sales growth, which is a positive sign for the company's operational efficiency.
Peer comparison
Mar 31, 2024