UGI Corporation (UGI)
Working capital turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 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 | 8,290,000 | 8,928,000 | 9,458,000 | 9,832,000 | 10,192,000 | 10,106,000 | 9,610,000 | 9,073,000 | 8,188,000 | 7,447,000 | 7,133,000 | 6,836,000 | 6,484,000 | 6,559,000 | 6,585,000 | 6,750,000 | 7,127,000 | 7,320,000 | 7,443,100 | 7,520,000 |
| Total current assets | US$ in thousands | 2,285,000 | 2,045,000 | 2,035,000 | 2,760,000 | 3,456,000 | 3,802,000 | 3,509,000 | 4,154,000 | 3,431,000 | 3,270,000 | 2,377,000 | 2,384,000 | 2,180,000 | 1,543,000 | 1,600,000 | 1,878,000 | 1,947,000 | 1,566,000 | 1,717,600 | 2,180,000 |
| Total current liabilities | US$ in thousands | 2,341,000 | 2,274,000 | 2,083,000 | 2,273,000 | 3,380,000 | 2,444,000 | 2,068,000 | 2,499,000 | 2,581,000 | 2,297,000 | 1,701,000 | 1,892,000 | 2,097,000 | 1,755,000 | 1,679,000 | 2,116,000 | 2,391,000 | 2,028,000 | 1,594,700 | 1,777,300 |
| Working capital turnover | — | — | — | 20.19 | 134.11 | 7.44 | 6.67 | 5.48 | 9.63 | 7.65 | 10.55 | 13.89 | 78.12 | — | — | — | — | — | 60.56 | 18.67 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $8,290,000K ÷ ($2,285,000K – $2,341,000K)
= —
The working capital turnover ratio for UGI Corp. has varied over the past eight quarters. The ratio was unreported or not available in the first three quarters of 2024. In the fourth quarter of 2023, the ratio was 20.19, indicating that UGI efficiently utilized its working capital to generate revenue during that period. This high ratio suggests that UGI was able to generate significant sales relative to the amount of working capital invested.
Looking back at previous quarters, the working capital turnover ratio exhibited significant fluctuations. In the first quarter of 2023, it was exceptionally high at 134.11, suggesting an extremely efficient utilization of working capital to generate revenue. However, this was followed by a notable decrease in the ratio in the fourth quarter of 2022 and the third quarter of 2022, indicating a potential decrease in the efficiency of working capital utilization during those periods.
Overall, UGI Corp. has experienced fluctuations in its working capital turnover ratio over the past eight quarters, reflecting changes in the efficiency of the company's working capital management and its ability to generate revenue using its available working capital. Further analysis of the company's operational and financial activities would be necessary to fully understand the factors driving these fluctuations in the working capital turnover ratio.
Peer comparison
Dec 31, 2023