RPC Inc (RES)

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	1,627,895	1,715,915	1,844,822	1,803,105	1,610,973	1,397,875	1,163,741	978,423	874,713	753,085	646,296	546,954	607,765	693,795	865,222	1,132,284	1,560,510	2,076,983	2,665,602	3,243,666
Total current assets	US$ in thousands	727,073	686,439	748,335	719,624	703,341	655,122	583,220	517,202	492,010	457,855	446,228	449,641	428,359	430,328	409,103	479,824	436,858	481,111	540,127	577,852
Total current liabilities	US$ in thousands	151,857	140,112	137,099	158,514	178,603	198,244	173,233	139,232	130,849	120,721	96,223	103,547	79,565	93,262	58,814	118,178	101,402	136,220	172,384	163,527
Working capital turnover		2.83	3.14	3.02	3.21	3.07	3.06	2.84	2.59	2.42	2.23	1.85	1.58	1.74	2.06	2.47	3.13	4.65	6.02	7.25	7.83

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,627,895K ÷ ($727,073K – $151,857K)
= 2.83

The working capital turnover ratio for RPC, Inc. has shown some fluctuations over the past eight quarters. The ratio measures how efficiently the company is utilizing its working capital to generate revenue. A higher ratio indicates better efficiency in managing working capital.

In Q1 2023, the working capital turnover ratio was 3.20, which was the highest among the reported quarters, showing that RPC, Inc. effectively utilized its working capital to generate revenue during that period. However, in Q2 2022 and Q4 2023, the ratio was lower at 2.81, indicating a decrease in efficiency in utilizing working capital during those quarters.

Overall, the working capital turnover ratio for RPC, Inc. has averaged around 3.00 over the past eight quarters, indicating generally efficient management of working capital to generate revenue. However, the fluctuations in the ratio over time suggest potential variability in the company's working capital management efficiency.