Under Armour Inc C (UA)

Working capital turnover

		Mar 31, 2024	Mar 31, 2023	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	5,701,880	5,903,160	5,683,470	4,474,670	5,267,130
Total current assets	US$ in thousands	2,863,680	2,948,480	3,336,300	3,222,980	2,702,210
Total current liabilities	US$ in thousands	1,165,460	1,359,280	1,450,180	1,413,280	1,422,010
Working capital turnover		3.36	3.71	3.01	2.47	4.11

March 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $5,701,880K ÷ ($2,863,680K – $1,165,460K)
= 3.36

Under Armour Inc C's working capital turnover has fluctuated over the past five years. The ratio decreased from 4.11 in 2019 to 2.47 in 2020, indicating a decrease in efficiency in utilizing working capital to generate revenue. However, there was a significant improvement in 2021, with the ratio increasing to 3.01. This upward trend continued in 2023, reaching 3.71, suggesting a more effective management of working capital during that period.

The latest data for March 31, 2024, shows a working capital turnover of 3.36. While lower than the previous year, it is still relatively healthy, indicating that the company is efficiently using its working capital to generate sales. Overall, the fluctuation in the working capital turnover ratio suggests varying degrees of efficiency in managing working capital over the years, with recent improvements in performance.