Under Armour Inc C (UA)

Working capital turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 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	5,701,870	5,768,270	5,863,720	5,870,930	5,903,030	6,033,630	5,997,670	5,775,320	5,683,460	5,558,030	5,445,520	4,801,630	4,474,670	4,512,120	4,508,560	4,992,650	5,267,130	5,215,890	5,229,410	5,212,540
Total current assets	US$ in thousands	2,863,680	3,122,820	2,871,760	2,984,220	2,948,480	3,116,600	3,079,400	3,000,090	3,336,300	3,127,940	3,143,180	3,157,720	3,222,980	2,973,340	3,089,010	2,868,010	2,702,210	2,459,090	2,444,450	2,206,710
Total current liabilities	US$ in thousands	1,165,460	1,466,180	1,283,100	1,464,210	1,359,280	1,502,130	1,473,260	1,458,680	1,450,180	1,354,540	1,361,960	1,234,320	1,413,280	1,448,400	1,618,610	1,691,500	1,422,010	1,199,660	1,332,640	1,094,010
Working capital turnover		3.36	3.48	3.69	3.86	3.71	3.74	3.73	3.75	3.01	3.13	3.06	2.50	2.47	2.96	3.07	4.24	4.11	4.14	4.70	4.68

March 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $5,701,870K ÷ ($2,863,680K – $1,165,460K)
= 3.36

The working capital turnover for Under Armour Inc C has shown fluctuations over the past few years.

In the most recent period, as of March 31, 2024, the working capital turnover stood at 3.36, indicating that the company generated $3.36 in revenue for every $1 of working capital invested. This ratio has been relatively stable, ranging from 3.01 to 3.86 over the past five quarters.

Historically, the working capital turnover has displayed an increasing trend from the end of 2020 through mid-2023, reaching a peak of 4.24 in March 2020. This suggests that the company was effectively utilizing its working capital to generate revenue during this period.

However, there was a slight decline in the working capital turnover towards the end of 2023 and into 2024, which may indicate a potential inefficiency in the management of working capital during these periods.

Overall, while the working capital turnover for Under Armour Inc C has fluctuated over time, it is essential for the company to closely monitor and manage its working capital effectively to ensure optimal operational performance and financial health.