Pursuit Attractions and Hospitality, Inc. (PRSU)

Working capital turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	366,488	350,285	299,327	507,340	415,435
Total current assets	US$ in thousands	117,384	235,777	239,555	197,616	91,257
Total current liabilities	US$ in thousands	76,394	232,519	211,117	175,126	97,733
Working capital turnover		8.94	107.52	10.53	22.56	—

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $366,488K ÷ ($117,384K – $76,394K)
= 8.94

The working capital turnover ratio for Pursuit Attractions and Hospitality, Inc. demonstrates significant fluctuations over the analyzed period from December 31, 2020, to December 31, 2024. In 2020, the ratio is not available, indicating either the absence of sufficient data or negligible working capital activity during that year. By December 31, 2021, the ratio is established at 22.56, reflecting a relatively high efficiency in utilizing working capital to generate revenue or sales.

However, in the subsequent year, 2022, the ratio decreases markedly to 10.53, suggesting a decline in the efficiency of working capital management or a change in operational dynamics. This downtrend continues into 2023, where the ratio experiences a significant surge to 107.52, indicating a substantial increase in the company’s working capital turnover. Such an increase could result from improved asset utilization, a reduction in working capital levels, or increased sales relative to working capital.

In 2024, the ratio declines sharply again to 8.94, returning to a level comparable to or below the 2022 figures. This suggests a possible deterioration in working capital efficiency, an increase in working capital relative to sales, or operational adjustments impacting resource utilization.

Overall, the trend reflects periods of both heightened and diminished efficiency in managing working capital. The substantial peak in 2023 indicates a brief phase of optimized operational performance, while the subsequent decrease indicates a potential reversal or adjustment in operational strategies or market conditions.