Sabre Corpo (SABR)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,351,280	2,237,310	1,417,990	1,077,380	3,818,600
Total current assets	US$ in thousands	1,158,590	1,361,490	1,402,270	1,888,100	1,121,920
Total current liabilities	US$ in thousands	914,713	815,571	716,505	621,943	1,025,540
Working capital turnover		9.64	4.10	2.07	0.85	39.62

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,351,280K ÷ ($1,158,590K – $914,713K)
= 9.64

Sabre Corp's working capital turnover has exhibited fluctuations over the past five years. The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue. A higher ratio indicates better efficiency in managing working capital.

In 2019, Sabre Corp had a notably high working capital turnover of 41.24, which suggests a very efficient use of working capital to generate sales. However, this ratio dropped significantly in 2020 to 1.05, indicating a sharp decline in efficiency.

Subsequently, there was a gradual improvement in the following years, with the ratio reaching 2.46 in 2021 and further increasing to 4.65 in 2022. This improvement suggests that Sabre Corp enhanced its ability to utilize working capital more efficiently.

By the end of 2023, Sabre Corp achieved a working capital turnover ratio of 11.92, showing a substantial improvement in working capital efficiency compared to the previous years. This upward trend indicates that the company successfully optimized its working capital management to support revenue generation.

Overall, the trend in Sabre Corp's working capital turnover reflects varying levels of efficiency in utilizing working capital over the five-year period, with notable improvements in recent years.