Skyline Corporation (SKY)
Working capital turnover
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,483,448 | 2,381,111 | 2,295,641 | 2,143,000 | 1,979,990 | 1,979,992 | 2,002,859 | 2,345,448 | 2,606,560 | 2,753,145 | 2,705,513 | 2,422,913 | 2,207,229 | 2,016,761 | 1,859,652 | 1,657,793 | 1,420,881 | 1,274,377 | 1,239,035 | 1,271,127 |
| Total current assets | US$ in thousands | — | 1,020,680 | 1,014,110 | 975,928 | 918,302 | 870,165 | 977,938 | 1,079,030 | 1,043,470 | 1,005,210 | 1,026,340 | 907,426 | 782,260 | 634,709 | 583,435 | 562,374 | 499,767 | 455,025 | 457,316 | 411,835 |
| Total current liabilities | US$ in thousands | — | 394,162 | 418,684 | 418,694 | 389,601 | 339,297 | 243,151 | 245,944 | 248,917 | 260,283 | 362,571 | 370,235 | 350,112 | 283,609 | 289,281 | 288,443 | 263,642 | 207,651 | 195,065 | 177,611 |
| Working capital turnover | — | 3.80 | 3.86 | 3.85 | 3.75 | 3.73 | 2.73 | 2.82 | 3.28 | 3.70 | 4.08 | 4.51 | 5.11 | 5.74 | 6.32 | 6.05 | 6.02 | 5.15 | 4.72 | 5.43 |
March 31, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,483,448K ÷ ($—K – $—K)
= —
The working capital turnover ratio is a measure of how efficiently a company is utilizing its working capital to generate sales revenue. A higher turnover ratio indicates that the company is effectively managing its working capital.
Analyzing the working capital turnover of Skyline Corporation over the past few years, we can see fluctuations in the ratio. The ratio started at 5.43 on June 30, 2020, declined to 4.08 by September 30, 2022, and further dropped to 2.73 by September 30, 2023. This significant decrease indicates potential inefficiency in utilizing working capital during these periods.
However, from December 31, 2023, the ratio started to improve, reaching 3.85 by June 30, 2024, and maintaining around 3.8 in the subsequent periods. Although the ratio did not return to the initial levels seen in 2020, the upward trend suggests better management of working capital efficiency in the latter years.
It is essential for Skyline Corporation to monitor and manage its working capital effectively to ensure optimal utilization of resources and to support sustainable business operations. Continued efforts to improve the working capital turnover ratio can contribute to the company's financial performance and overall competitiveness in the market.
Peer comparison
Mar 31, 2025