PNM Resources Inc (PNM)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,939,200	2,249,560	1,779,870	1,523,010	1,457,600
Total current assets	US$ in thousands	475,543	410,978	324,600	377,479	294,010
Total current liabilities	US$ in thousands	1,230,760	890,370	664,213	977,662	967,481
Working capital turnover		—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,939,200K ÷ ($475,543K – $1,230,760K)
= —

To calculate working capital turnover for PNM Resources Inc, we need to use the formula:

Working Capital Turnover = Revenue / Average Working Capital

Unfortunately, the specific figures for working capital are not provided in the table. Hence, without the values for working capital, we are unable to compute the working capital turnover for the years 2019 to 2023.

Working capital turnover is a measure of how efficiently a company uses its working capital to generate sales. A higher working capital turnover ratio indicates that the company is able to generate more sales with less working capital, which is generally seen as a positive sign of efficiency. Conversely, a lower ratio may indicate inefficiency in managing working capital.

Without the values for working capital, a detailed analysis of the trend in PNM Resources Inc's working capital turnover over the past five years cannot be provided. It is recommended to obtain the necessary working capital figures to calculate this ratio and assess the company's efficiency in utilizing its working capital.