Sun Country Airlines Holdings Inc (SNCY)

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
Revenue (ttm)	US$ in thousands	1,007,754	992,038	968,772	930,950	861,871	815,190	768,360	699,444	603,528
Total current assets	US$ in thousands	271,351	260,305	302,263	325,993	345,490	337,740	363,338	349,243	375,443	346,441	371,246	328,159
Total current liabilities	US$ in thousands	418,582	370,875	383,255	366,368	377,128	320,689	331,361	301,476	281,651	241,620	250,806	237,640
Working capital turnover		—	—	—	—	—	47.81	24.03	14.64	6.43

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,007,754K ÷ ($271,351K – $418,582K)
= —

The working capital turnover ratio for Sun Country Airlines Holdings Inc has shown a significant improvement in recent quarters. In Q1 2022, the ratio was 15.11, indicating that the company generated $15.11 in revenue for every $1 of working capital invested. This ratio doubled in Q2 2022 to 24.76, and further increased to 49.25 in Q3 2022.

Unfortunately, specific data for Q4 2023 and the previous quarters is not available, hindering a complete analysis of the trend in the working capital turnover ratio. It is important to note that a higher working capital turnover ratio generally indicates better efficiency in utilizing working capital to generate revenue.