Standex International Corporation (SXI)
Working capital turnover
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 790,107 | 720,635 | 741,048 | 735,339 | 656,232 |
| Total current assets | US$ in thousands | 480,879 | 430,095 | 483,253 | 378,998 | 374,366 |
| Total current liabilities | US$ in thousands | 166,975 | 127,565 | 140,967 | 150,768 | 143,709 |
| Working capital turnover | 2.52 | 2.38 | 2.16 | 3.22 | 2.85 |
June 30, 2025 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $790,107K ÷ ($480,879K – $166,975K)
= 2.52
The working capital turnover ratio of Standex International Corporation over the analyzed period demonstrates fluctuations that reflect changes in operational efficiency related to working capital management. As of June 30, 2021, the ratio stood at 2.85, indicating a relatively high level of efficiency in generating sales from the company's working capital. This ratio increased to 3.22 by June 30, 2022, suggesting improved efficiency during that period.
However, a notable decline occurred by June 30, 2023, when the ratio decreased to 2.16. This decline may indicate a deterioration in the company's ability to utilize its working capital effectively to generate sales or an increase in working capital relative to sales. The ratio subsequently experienced a modest recovery, reaching 2.38 by June 30, 2024, and further improving to 2.52 by June 30, 2025.
Overall, while there was an initial improvement from 2021 to 2022, the subsequent decline in 2023 suggests a period of less efficient working capital utilization, which was partially alleviated in the following years. The fluctuations necessitate further analysis to understand the underlying causes, such as changes in accounts receivable, inventory levels, or accounts payable management, that influenced the company's capacity to generate sales from its working capital during this timeframe.
Peer comparison
Jun 30, 2025