Under Armour Inc C (UA)
Working capital turnover
| Mar 31, 2024 | Dec 31, 2023 | Mar 31, 2023 | Dec 31, 2022 | Mar 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,701,880 | 5,701,880 | 5,903,640 | 5,903,640 | 5,683,470 |
| Total current assets | US$ in thousands | 2,863,680 | 2,863,680 | 2,959,590 | 2,959,590 | 3,336,300 |
| Total current liabilities | US$ in thousands | 1,165,460 | 1,165,460 | 1,356,890 | 1,356,890 | 1,450,180 |
| Working capital turnover | 3.36 | 3.36 | 3.68 | 3.68 | 3.01 |
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.
Peer comparison
Mar 31, 2024