Thryv Holdings Inc (THRY)

Working capital turnover

		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	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	916,961	960,166	1,056,994	1,139,568	1,202,388	1,167,459	1,184,099	1,141,151	1,113,382	1,115,871	1,058,906	1,071,471	1,109,435	1,154,858	1,274,299	1,349,703	1,421,374	1,552,602	1,642,262	1,724,221
Total current assets	US$ in thousands	266,868	274,572	309,399	388,631	378,316	387,093	399,906	428,915	370,645	391,251	400,107	463,640	369,698	424,248	477,441	476,426	478,569	295,726	322,927	654,191
Total current liabilities	US$ in thousands	263,190	235,914	237,939	296,830	300,492	295,886	293,581	342,539	307,134	320,528	344,372	346,168	207,400	249,690	282,057	260,078	257,441	226,027	246,706	248,735
Working capital turnover		249.31	24.84	14.79	12.41	15.45	12.80	11.14	13.21	17.53	15.78	19.00	9.12	6.84	6.62	6.52	6.24	6.43	22.28	21.55	4.25

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $916,961K ÷ ($266,868K – $263,190K)
= 249.31

Thryv Holdings Inc's working capital turnover has shown significant fluctuations over the past eight quarters. The working capital turnover ratio measures how efficiently the company's working capital is being used to generate revenue.

In Q4 2023, the working capital turnover ratio spiked to 249.31, indicating a substantial increase in the company's ability to generate revenue from its working capital. This could suggest a more efficient management of current assets and liabilities.

However, this spike followed a significant decline in Q3 2023, where the ratio dropped to 24.84. This sharp decrease may raise concerns about the company's ability to efficiently utilize its working capital during that period.

Looking at the trend over the past quarters, Thryv Holdings Inc's working capital turnover ratio has generally been on an upward trajectory since Q2 2022. This could indicate improving efficiency in utilizing working capital to drive revenue generation.

It is important for stakeholders to monitor this ratio closely to ensure that the company maintains an optimal balance between working capital management and revenue generation. Fluctuations in this ratio could signal potential operational challenges or opportunities for improvement in Thryv Holdings Inc's financial performance.