Rogers Corporation (ROG)

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	901,299	912,712	930,181	952,619	959,464	974,498	968,031	952,111	933,645	911,742	872,311	827,187	796,024	779,120	800,771	852,145	894,360	923,534	930,355	904,278
Total current assets	US$ in thousands	526,900	554,797	582,779	611,881	659,900	637,678	635,696	576,529	584,065	554,565	525,125	505,780	474,175	474,443	590,690	621,293	464,102	458,492	509,859	503,910
Total current liabilities	US$ in thousands	116,400	116,137	118,580	127,478	142,500	137,916	154,948	161,166	163,949	138,242	127,022	129,562	111,509	106,356	96,865	97,339	100,225	105,189	112,692	108,365
Working capital turnover		2.20	2.08	2.00	1.97	1.85	1.95	2.01	2.29	2.22	2.19	2.19	2.20	2.19	2.12	1.62	1.63	2.46	2.61	2.34	2.29

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $901,299K ÷ ($526,900K – $116,400K)
= 2.20

The working capital turnover ratio for Rogers Corp. has shown a fluctuating trend over the past eight quarters, ranging from 2.00 to 2.29. The company's efficiency in utilizing its working capital to generate sales also varied during this period. In general, a higher working capital turnover indicates that the company is effectively using its current assets to support revenue generation.

The highest working capital turnover ratio of 2.29 was observed in Q1 2022, suggesting that Rogers Corp. efficiently converted its working capital into sales during that quarter. Conversely, the lowest ratio of 1.88 was recorded in Q4 2022, signaling a comparatively lower efficiency in utilizing working capital to drive revenue.

Despite some fluctuations, the working capital turnover ratio for Rogers Corp. has generally remained above 2.00 in recent quarters, indicating a consistent ability to efficiently manage working capital resources to support the company's operations. Further examination of the company's working capital management practices and operational efficiency may provide additional insights into the underlying drivers of these fluctuations.