SM Energy Co (SM)
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 | 2,373,886 | 2,436,478 | 2,631,028 | 3,072,376 | 3,358,647 | 3,542,289 | 3,467,077 | 3,038,824 | 2,622,894 | 2,088,226 | 1,609,002 | 1,214,785 | 1,126,673 | 1,258,067 | 1,367,369 | 1,604,909 | 1,590,105 | 1,532,611 | 1,601,663 | 1,638,407 |
| Total current assets | US$ in thousands | 916,439 | 702,552 | 678,985 | 756,276 | 737,203 | 807,778 | 633,133 | 758,835 | 613,187 | 336,270 | 269,410 | 230,282 | 203,669 | 274,890 | 355,469 | 625,160 | 252,634 | 311,114 | 288,734 | 221,334 |
| Total current liabilities | US$ in thousands | 633,812 | 599,084 | 563,988 | 563,146 | 598,584 | 814,017 | 1,013,750 | 1,058,720 | 889,327 | 1,103,570 | 1,051,670 | 776,619 | 583,739 | 377,278 | 307,900 | 383,463 | 472,043 | 491,042 | 503,945 | 545,342 |
| Working capital turnover | 8.40 | 23.55 | 22.88 | 15.91 | 24.23 | — | — | — | — | — | — | — | — | — | 28.74 | 6.64 | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,373,886K ÷ ($916,439K – $633,812K)
= 8.40
Based on the data provided, the working capital turnover for SM Energy Co has shown fluctuations over the past eight quarters. In Q4 2023, the working capital turnover was 8.40, which decreased significantly compared to the previous quarter's value of 23.55 in Q3 2023. However, Q3 2023 marked a notable increase in efficiency compared to the two preceding quarters, with a working capital turnover of 23.55.
The working capital turnover for Q2 2023 was 22.88, reflecting a strong performance in efficiently utilizing its working capital. This trend continued from Q1 2023, where the company achieved a working capital turnover of 15.91. In comparison to Q4 2022, which had a working capital turnover of 24.23, the company experienced a slight decrease in efficiency in Q1 2023.
The absence of data for Q3 and Q2 2022 limits the ability to provide a comprehensive trend analysis for those periods. However, the data available suggests that SM Energy Co has demonstrated varying levels of efficiency in managing its working capital over the past year.
Overall, the working capital turnover ratio for SM Energy Co has shown fluctuations, indicating changes in the company's ability to convert its working capital into revenue. Further analysis and comparison with industry benchmarks would be beneficial in assessing the company's performance in this area.
Peer comparison
Dec 31, 2023