SkyWest Inc (SKYW)

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	2,890,358	2,814,694	2,837,558	2,914,438	2,963,235	3,042,161	3,003,665	2,857,719	2,652,287	2,485,562	2,186,191	1,875,348	2,067,711	2,238,559	2,531,539	2,912,994	2,971,964	3,101,452	3,170,241	3,235,332
Total current assets	US$ in thousands	1,131,900	1,162,000	1,183,130	1,251,970	1,371,280	1,262,190	1,216,880	1,071,970	1,068,590	1,096,670	1,130,830	998,781	982,802	977,278	945,849	768,968	760,346	810,389	779,931	781,394
Total current liabilities	US$ in thousands	1,254,290	1,205,670	1,165,990	1,152,100	1,172,540	1,159,900	1,198,410	1,142,290	1,194,620	1,137,760	1,109,360	950,438	941,722	859,904	986,187	1,019,840	924,676	961,539	927,328	945,327
Working capital turnover		—	—	165.55	29.18	14.91	29.74	162.62	—	—	—	101.83	38.79	50.33	19.07	—	—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,890,358K ÷ ($1,131,900K – $1,254,290K)
= —

To analyze the working capital turnover of Skywest Inc., we observe significant fluctuations in the ratio over the past eight quarters. The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales revenue.

In Q1 2022, the ratio stood at 15.12, indicating that for every dollar of working capital, Skywest Inc. generated $15.12 in sales. This figure increased to 30.31 in Q3 2022, suggesting an improvement in efficiency. In Q4 2022, the ratio dropped to 165.47, which may indicate either a significant increase in sales or a decrease in working capital.

For the first three quarters of 2023, the working capital turnover ratios were 29.65, 168.50, and — (data not available for Q4 2023). The ratio of 168.50 in Q2 2023 indicates a substantial improvement in working capital efficiency from the previous quarter. However, the — data for Q4 2023 restricts a complete analysis of the trend for the year.

Overall, the trend in the working capital turnover ratio for Skywest Inc. shows variability across the quarters, suggesting fluctuations in the company's working capital management and sales generation efficiency. Further analysis would be required to understand the underlying reasons for these fluctuations and to assess the company's overall financial health.