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.
Peer comparison
Dec 31, 2023