Tootsie Roll Industries Inc (TR)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 723,217 | 769,365 | 681,440 | 566,043 | 471,063 |
| Total current assets | US$ in thousands | 66,496 | 340,651 | 309,028 | 268,301 | 320,872 |
| Total current liabilities | US$ in thousands | 87,286 | 94,888 | 90,134 | 79,968 | 70,021 |
| Working capital turnover | — | 3.13 | 3.11 | 3.01 | 1.88 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $723,217K ÷ ($66,496K – $87,286K)
= —
Tootsie Roll Industries Inc's working capital turnover has shown a positive trend over the years under review. The working capital turnover ratio has increased steadily from 1.88 in December 31, 2020, to 3.13 in December 31, 2023. This indicates that the company is effectively utilizing its working capital to generate sales revenue.
A working capital turnover ratio above 1 indicates that the company is efficiently using its working capital to support its sales activities. In this case, the increasing trend suggests that Tootsie Roll Industries Inc has been able to more efficiently convert its working capital into sales revenue over the years.
However, it is worth noting that the data for December 31, 2024, is not available (represented as '—'), so it is not possible to analyze the most recent year's performance. Nonetheless, based on the trend observed in the previous years, Tootsie Roll Industries Inc has demonstrated an improving efficiency in managing its working capital to drive sales growth.
Peer comparison
Dec 31, 2024