Interface Inc (TILE)
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 | Jul 5, 2020 | Apr 5, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,237,937 | 1,242,993 | 1,260,160 | 1,278,311 | 1,263,671 | 1,272,814 | 1,257,784 | 1,205,865 | 1,170,717 | 1,102,204 | 1,075,866 | 1,047,874 | 1,090,039 | 1,165,797 | 1,228,930 | 1,320,123 | 1,322,849 | 1,320,426 | 1,292,124 | 1,225,053 |
| Total current assets | US$ in thousands | 583,858 | 585,840 | 581,498 | 611,773 | 617,037 | 603,092 | 626,690 | 583,779 | 572,340 | 535,711 | 546,659 | 517,427 | 495,394 | 515,046 | 533,386 | 533,911 | 548,135 | 564,789 | 582,854 | 564,485 |
| Total current liabilities | US$ in thousands | 214,721 | 210,189 | 194,317 | 221,484 | 220,470 | 237,900 | 249,359 | 245,867 | 261,812 | 234,836 | 229,598 | 217,084 | 193,300 | 244,807 | 232,584 | 230,291 | 263,275 | 254,972 | 234,255 | 232,522 |
| Working capital turnover | 3.35 | 3.31 | 3.25 | 3.28 | 3.19 | 3.49 | 3.33 | 3.57 | 3.77 | 3.66 | 3.39 | 3.49 | 3.61 | 4.31 | 4.09 | 4.35 | 4.64 | 4.26 | 3.71 | 3.69 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,237,937K ÷ ($583,858K – $214,721K)
= 3.35
Interface Inc. has shown relatively consistent working capital turnover over the past eight quarters, averaging around 3.40. This indicates that the company is efficiently utilizing its working capital to generate revenue. The slight fluctuations in the ratio over time may be attributed to changes in the company's operations or working capital management practices. In general, a higher working capital turnover ratio signifies that the company is efficiently managing its working capital to support its sales levels. Interface Inc.'s consistent working capital turnover ratio suggests that the company is effectively managing its liquidity and working capital resources.
Peer comparison
Dec 31, 2023