Standex International Corporation (SXI)
Working capital turnover
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 718,614 | 725,709 | 793,464 | 802,306 | 797,947 | 794,463 | 737,484 | 735,444 | 729,921 | 721,675 | 689,907 | 660,406 | 636,318 | 603,067 | 633,831 | 669,734 | 716,376 | 783,267 | 813,001 | 841,914 |
| Total current assets | US$ in thousands | 430,095 | 419,153 | 435,999 | 420,047 | 483,253 | 460,775 | 400,925 | 384,867 | 378,998 | 410,644 | 397,379 | 376,317 | 374,366 | 350,794 | 327,116 | 314,852 | 331,997 | 360,481 | 342,612 | 324,382 |
| Total current liabilities | US$ in thousands | 127,565 | 122,348 | 130,542 | 131,657 | 140,967 | 130,587 | 132,415 | 124,418 | 150,768 | 141,739 | 138,010 | 135,170 | 143,709 | 131,941 | 117,886 | 114,397 | 122,877 | 136,803 | 145,274 | 134,712 |
| Working capital turnover | 2.38 | 2.45 | 2.60 | 2.78 | 2.33 | 2.41 | 2.75 | 2.82 | 3.20 | 2.68 | 2.66 | 2.74 | 2.76 | 2.76 | 3.03 | 3.34 | 3.43 | 3.50 | 4.12 | 4.44 |
June 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $718,614K ÷ ($430,095K – $127,565K)
= 2.38
The working capital turnover for Standex International Corporation has exhibited fluctuations over the past few quarters, ranging from a low of 2.33 to a high of 4.44.
Overall, working capital turnover measures the efficiency of a company in using its working capital to generate sales revenue. A higher turnover ratio indicates that the company is efficiently utilizing its working capital to generate sales.
In Standex International Corporation's case, the working capital turnover ratio has generally been above 2.0, which suggests that the company is effectively managing its working capital to support its sales operations.
However, there are fluctuations in the ratio over time, indicating potential variations in the company's working capital management efficiency. It would be insightful to further analyze the reasons behind these fluctuations and assess the effectiveness of the company's working capital management strategies.
Peer comparison
Jun 30, 2024