Tegna Inc (TGNA)

Working capital turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue US$ in thousands 2,738,030 3,105,220 2,805,440 2,727,490 2,119,510
Total current assets US$ in thousands 1,050,320 1,303,710 787,589 672,594 707,324
Total current liabilities US$ in thousands 423,372 391,024 375,132 424,175 361,158
Working capital turnover 4.37 3.40 6.80 10.98 6.12

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,738,030K ÷ ($1,050,320K – $423,372K)
= 4.37

TEGNA Inc's working capital turnover has fluctuated over the past five years. In 2023, the working capital turnover was 4.64, indicating that the company generated $4.64 in sales for every $1 of working capital invested. This represents an improvement compared to the previous year, where the ratio was 3.59.

Analyzing further back, the working capital turnover was highest in 2020 at 11.83, showing a significant efficiency in utilizing working capital to generate sales. However, there was a decrease in 2021 to 7.25 before dropping further in 2022.

Overall, the working capital turnover trend for TEGNA Inc suggests fluctuations in the efficiency of utilizing working capital to generate sales. Investors and analysts should continue monitoring this metric to assess the company's operational performance and financial efficiency.


Peer comparison

Dec 31, 2023