Unifirst Corporation (UNF)
Working capital turnover
| Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 25, 2019 | Feb 23, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,365,112 | 2,318,618 | 2,239,785 | 2,119,703 | 2,061,428 | 2,003,673 | 1,951,889 | 1,904,995 | 1,868,175 | 1,828,779 | 1,791,680 | 1,773,258 | 1,789,406 | 1,809,749 | 1,860,727 | 1,870,168 | 1,842,887 | 1,815,402 | 1,769,844 | 1,741,215 |
| Total current assets | US$ in thousands | 864,478 | 858,938 | 840,118 | 1,067,280 | 1,067,610 | 1,063,890 | 1,068,880 | 1,078,870 | 1,111,650 | 1,103,790 | 1,070,150 | 1,023,460 | 986,824 | 969,334 | 925,512 | 923,822 | 902,457 | 913,791 | 861,855 | 849,096 |
| Total current liabilities | US$ in thousands | 262,864 | 258,785 | 267,229 | 232,136 | 242,771 | 243,745 | 246,721 | 250,051 | 246,013 | 254,670 | 238,284 | 226,131 | 211,692 | 210,096 | 196,234 | 201,395 | 197,632 | 189,844 | 174,273 | 180,182 |
| Working capital turnover | 3.93 | 3.86 | 3.91 | 2.54 | 2.50 | 2.44 | 2.37 | 2.30 | 2.16 | 2.15 | 2.15 | 2.22 | 2.31 | 2.38 | 2.55 | 2.59 | 2.61 | 2.51 | 2.57 | 2.60 |
February 24, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,365,112K ÷ ($864,478K – $262,864K)
= 3.93
Unifirst Corporation's working capital turnover has shown fluctuations over the past several reporting periods. The working capital turnover ratio measures how efficiently a company is using its working capital to generate revenue. A higher ratio typically indicates better efficiency in utilizing working capital.
In the latest available report, as of February 24, 2024, the working capital turnover ratio stood at 3.93, reflecting an improvement compared to the previous quarter's ratio of 3.86. This indicates that Unifirst Corporation was able to generate 3.93 times its revenue using its working capital during the period.
Looking further back, there was a significant increase in the ratio from August 26, 2023 (3.91) to February 25, 2023 (2.54), suggesting a period of enhanced efficiency in working capital management. However, the ratio experienced a slight decline before this period, dropping from 2.61 on November 30, 2019, to 2.51 on August 31, 2019.
The overall trend for Unifirst Corporation's working capital turnover appears to be positive, with the ratio generally increasing over the years. This indicates an improvement in the company's ability to generate revenue from its working capital. However, it is essential to continue monitoring this ratio to ensure efficient management of working capital resources.
Peer comparison
Feb 24, 2024