Under Armour Inc A (UAA)

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 ratio measures how efficiently a company utilizes its working capital to generate sales. For Under Armour Inc A, the working capital turnover ratio has shown some fluctuation over the past few quarters but has generally been in a range of 2.47 to 4.70.

A higher working capital turnover ratio indicates that the company is effectively using its working capital to support its sales activities. In this case, the ratios above 3 indicate that Under Armour Inc A has been efficiently managing its working capital to generate revenue.

It is important for investors and analysts to monitor changes in the working capital turnover ratio over time as significant shifts may indicate changes in the company's liquidity management or operational efficiency. Overall, the trend in Under Armour Inc A's working capital turnover ratio suggests a relatively stable and effective utilization of working capital in driving sales.