Shenandoah Telecommunications Co (SHEN)

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	300,501	301,022	297,724	292,123	285,771	273,763	264,883	257,462	249,739	245,267	241,096	344,678	431,664	534,529	624,303	609,113	611,175	611,662	613,833	761,706
Total current assets	US$ in thousands	176,071	74,454	78,911	104,523	128,562	117,739	129,812	126,110	166,367	574,033	1,429,140	1,426,270	1,406,610	1,410,990	299,533	257,909	241,853	221,640	222,148	187,785
Total current liabilities	US$ in thousands	98,355	84,421	81,831	92,236	96,421	78,941	71,054	57,058	67,290	485,423	1,156,540	1,202,320	1,208,060	1,232,110	145,327	139,644	153,577	132,055	127,781	119,121
Working capital turnover		3.87	—	—	23.77	8.89	7.06	4.51	3.73	2.52	2.77	0.88	1.54	2.17	2.99	4.05	5.15	6.92	6.83	6.50	11.09

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $300,501K ÷ ($176,071K – $98,355K)
= 3.87

Based on the data provided, Shenandoah Telecommunications Co.'s working capital turnover has displayed fluctuations over the quarters analyzed. In Q1 2023, the working capital turnover ratio was reported at 22.35, indicating that the company turned over its working capital 22.35 times during that period. This exceptional ratio may suggest efficient management of working capital to generate sales revenue.

Conversely, the working capital turnover ratios in the previous quarters show lower figures, ranging from 3.62 to 8.32. This variability in the ratios may reflect changes in the company's operational efficiency and liquidity management over time.

The absence of data for Q3 2023 and Q2 2023 limits the ability to assess the trend of the working capital turnover consistently throughout the year. However, it is evident that the company has experienced significant fluctuations in its working capital turnover performance.

A consistently high working capital turnover ratio indicates that Shenandoah Telecommunications Co. is effectively utilizing its working capital to generate sales, while a lower ratio may imply inefficiencies in managing working capital. Further analysis and comparison with industry peers would provide valuable insights into the company's working capital management efficiency.