Range Resources Corp (RRC)

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	3,374,418	4,063,441	4,564,257	5,152,420	4,146,796	4,083,246	3,275,345	2,484,927	2,930,223	1,962,279	1,958,985	1,900,809	1,968,697	1,975,415	2,298,515	2,773,398	2,827,615	3,294,651	3,483,431	3,288,186
Total current assets	US$ in thousands	870,124	595,977	561,571	693,764	539,587	862,366	669,395	575,795	736,665	412,355	339,712	308,632	289,840	209,147	331,839	467,117	427,802	412,458	459,099	388,478
Total current liabilities	US$ in thousands	583,086	643,513	652,035	756,900	1,020,660	2,089,670	2,027,980	2,337,280	1,152,460	1,646,330	925,919	695,434	706,841	630,120	530,253	490,125	566,544	557,430	613,631	670,800
Working capital turnover		11.76	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,374,418K ÷ ($870,124K – $583,086K)
= 11.76

Range Resources Corp experienced a significant increase in working capital turnover in Q4 2023, reaching a ratio of 11.76. This suggests that the company generated $11.76 in revenue for every dollar of working capital invested during the quarter. A higher working capital turnover ratio indicates that the company is effectively managing its working capital to support its operations and generate sales. It is worth noting that data for previous quarters is not available for comparison, so it is challenging to assess the trend in working capital efficiency over time. It would be beneficial to monitor future quarters to determine if this strong performance is sustainable.