Range Resources Corp (RRC)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,374,420	4,146,800	2,930,220	1,968,700	2,827,620
Total current assets	US$ in thousands	870,124	539,587	736,665	289,840	427,802
Total current liabilities	US$ in thousands	583,086	1,020,660	1,152,460	706,841	566,544
Working capital turnover		11.76	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,374,420K ÷ ($870,124K – $583,086K)
= 11.76

The working capital turnover ratio for Range Resources Corp was 11.76 as of December 31, 2023. This ratio indicates that the company generated $11.76 in revenue for every dollar of working capital during the period.

However, the absence of data for the years prior to 2023 limits the ability to conduct a trend analysis to assess the historical performance of the company in efficiently utilizing its working capital to generate revenue.

A higher working capital turnover ratio generally indicates more efficient utilization of working capital to generate revenue. It suggests that the company is able to quickly convert its working capital into sales. In contrast, a lower ratio may indicate inefficiencies in managing working capital or potential liquidity issues.

Overall, with a working capital turnover ratio of 11.76 in 2023, Range Resources Corp appears to have effectively utilized its working capital to generate revenue. However, further analysis in comparison to industry benchmarks and historical data would provide more insights into the company's working capital management efficiency.