Pinnacle West Capital Corp (PNW)

Working capital turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	4,695,989	4,713,725	4,545,835	4,485,805	4,324,381	4,113,928	3,952,308	3,890,888	3,803,832	3,745,936	3,692,186	3,621,526	3,586,981	3,516,411	3,452,701	3,392,612	3,471,212	3,557,197	3,634,437	3,739,059
Total current assets	US$ in thousands	1,926,970	2,161,940	1,851,740	1,748,390	1,750,550	2,016,560	1,798,150	1,594,590	1,551,100	1,709,150	1,523,180	1,169,780	1,198,320	1,454,690	1,147,090	1,078,310	1,030,030	1,133,160	1,028,570	876,389
Total current liabilities	US$ in thousands	2,889,350	1,968,340	1,932,580	1,724,330	1,762,140	2,060,900	2,022,450	1,596,730	1,756,870	1,649,260	2,023,270	1,330,540	1,360,430	1,244,780	1,496,360	2,295,490	2,078,360	1,586,750	1,900,960	1,591,300
Working capital turnover		—	24.35	—	186.44	—	—	—	—	—	62.55	—	—	—	16.75	—	—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,695,989K ÷ ($1,926,970K – $2,889,350K)
= —

Based on the provided data for Pinnacle West Capital Corp., the working capital turnover ratio for Q4 2023 is not available as indicated by a dash. In Q3 2023, the working capital turnover ratio was 24.35, signifying that the company generated $24.35 in revenue for each dollar of working capital.

Comparing this to Q1 2023, where the working capital turnover ratio was substantially higher at 186.44, it suggests that the company was able to generate significantly more revenue per dollar of working capital in that quarter. However, without additional data for Q2 2023 and historical context from previous quarters, it is challenging to draw further conclusions or trends regarding Pinnacle West Capital Corp.'s efficiency in utilizing its working capital to generate revenue.

Analyzing the working capital turnover ratio in isolation provides limited insights. It would be more informative to evaluate this ratio in conjunction with other financial metrics and industry benchmarks to assess the company's operational efficiency and financial performance comprehensively.