SpartanNash Co (SPTN)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 9,729,220 | 9,643,100 | 8,931,040 | 9,348,480 | 8,536,060 |
| Total current assets | US$ in thousands | 1,077,490 | 1,066,410 | 957,193 | 1,014,740 | 996,682 |
| Total current liabilities | US$ in thousands | 659,896 | 704,970 | 655,838 | 689,554 | 565,134 |
| Working capital turnover | 23.30 | 26.68 | 29.64 | 28.75 | 19.78 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $9,729,220K ÷ ($1,077,490K – $659,896K)
= 23.30
SpartanNash Co's working capital turnover has shown a decreasing trend over the past five years, from 19.78 in 2019 to 23.30 in 2023. This implies that the company has become less efficient in generating sales revenue relative to its working capital resources. A higher working capital turnover ratio indicates better efficiency in utilizing current assets to generate sales. Therefore, the decreasing trend may raise concerns about the company's ability to effectively manage its working capital and optimize its operations. Further analysis and investigation into the company's working capital management practices and operational efficiency may be warranted to address this declining trend.
Peer comparison
Dec 31, 2023