Royal Gold Inc (RGLD)

Working capital turnover

		Sep 30, 2024	Jun 30, 2024	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	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
Revenue (ttm)	US$ in thousands	669,501	614,281	584,227	605,717	616,031	608,843	611,242	603,205	614,656	651,254	647,402	643,407	649,762	601,700	595,548	560,831	498,819	494,548	467,889	441,838
Total current assets	US$ in thousands	202,105	133,498	193,048	167,426	163,766	165,249	189,164	185,833	181,783	340,340	258,645	232,083	297,135	446,322	450,491	469,825	362,150	150,577	136,442	164,210
Total current liabilities	US$ in thousands	86,323	122,383	77,145	72,422	70,847	63,068	54,998	63,587	64,476	64,013	49,543	60,264	52,083	62,691	57,154	56,139	43,555	49,830	44,130	32,373
Working capital turnover		5.78	55.27	5.04	6.38	6.63	5.96	4.56	4.93	5.24	2.36	3.10	3.74	2.65	1.57	1.51	1.36	1.57	4.91	5.07	3.35

September 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $669,501K ÷ ($202,105K – $86,323K)
= 5.78

The working capital turnover of Royal Gold Inc has shown fluctuating performance over the past few quarters. The ratio has ranged from as low as 1.36 to as high as 55.27. A higher working capital turnover ratio indicates that the company is efficiently managing its working capital to generate revenue. However, the sudden spikes in the ratio may indicate anomalies or irregularities in the data.

Overall, the company's working capital turnover has been relatively stable, with some periods of significant improvement and others where the ratio declined. It would be beneficial for investors and stakeholders to further investigate the reasons behind these fluctuations to better understand the company's financial performance and efficiency in utilizing its working capital.