SpartanNash Co (SPTN)
Working capital turnover
| Dec 31, 2023 | Oct 7, 2023 | Jul 15, 2023 | Apr 22, 2023 | Dec 31, 2022 | Oct 8, 2022 | Apr 23, 2022 | Dec 31, 2021 | Oct 9, 2021 | Jul 17, 2021 | Apr 24, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jul 11, 2020 | Apr 18, 2020 | Dec 31, 2019 | Oct 5, 2019 | Jul 13, 2019 | Apr 20, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 9,729,210 | 9,793,070 | 9,825,330 | 10,276,600 | 9,462,640 | 9,226,850 | 9,036,900 | 8,931,040 | 9,084,720 | 9,072,290 | 9,149,830 | 9,348,490 | 9,099,330 | 9,038,320 | 8,850,150 | 8,536,070 | 8,434,920 | 8,321,840 | 8,221,860 | 8,064,550 |
| Total current assets | US$ in thousands | 1,077,490 | 1,088,050 | 1,085,360 | 1,068,880 | 1,066,410 | 1,146,480 | 1,031,890 | 957,193 | 1,007,230 | 992,920 | 1,039,000 | 1,014,740 | 1,095,500 | 1,058,680 | 1,048,260 | 996,682 | 1,048,540 | 998,496 | 1,052,820 | 1,001,100 |
| Total current liabilities | US$ in thousands | 659,896 | 682,366 | 670,532 | 634,224 | 704,970 | 702,622 | 661,625 | 655,838 | 702,045 | 648,547 | 629,008 | 689,554 | 694,582 | 677,372 | 679,382 | 565,134 | 610,969 | 567,750 | 555,105 | 476,451 |
| Working capital turnover | 23.30 | 24.14 | 23.69 | 23.64 | 26.18 | 20.79 | 24.41 | 29.64 | 29.77 | 26.34 | 22.32 | 28.75 | 22.70 | 23.70 | 23.99 | 19.78 | 19.28 | 19.32 | 16.52 | 15.37 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $9,729,210K ÷ ($1,077,490K – $659,896K)
= 23.30
The working capital turnover ratio for SpartanNash Co has shown fluctuations over the past few years. The ratio measures how effectively the company is utilizing its working capital to generate revenue. A higher ratio indicates efficient utilization of working capital, while a lower ratio may suggest inefficiency in managing working capital.
During the most recent period, ending December 31, 2023, the working capital turnover ratio was 23.30. This indicates that the company generated $23.30 in revenue for every dollar of working capital invested. The ratio has been relatively stable in recent periods, hovering in the range of 23 to 26.
In comparison to previous years, the working capital turnover ratio reached a peak of 29.77 on December 31, 2021, showing efficient utilization of working capital to generate revenue. However, the ratio dropped to 15.37 on December 31, 2018, suggesting a decrease in the efficiency of working capital management.
Overall, the analysis of SpartanNash Co's working capital turnover ratios indicates fluctuations but generally shows a consistent level of efficiency in utilizing working capital to generate revenue. It is important for the company to monitor this ratio closely to ensure optimal management of its working capital resources.
Peer comparison
Dec 31, 2023