United Rentals Inc (URI)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	14,332,000	11,642,000	9,716,000	8,530,000	9,351,000
Total current assets	US$ in thousands	2,933,000	2,723,000	2,151,000	2,017,000	1,842,000
Total current liabilities	US$ in thousands	3,637,000	2,445,000	2,603,000	1,890,000	2,198,000
Working capital turnover		—	41.88	—	67.17	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $14,332,000K ÷ ($2,933,000K – $3,637,000K)
= —

As per the provided data, United Rentals, Inc. did not have a working capital turnover ratio available for the years 2023 and 2021. However, for 2022 and 2020, the working capital turnover ratio was 41.88 and 67.17, respectively.

The working capital turnover ratio measures a company's ability to generate net sales revenue from its working capital. A higher ratio indicates that the company efficiently utilizes its working capital to generate sales. The significant decrease in the working capital turnover from 67.17 in 2020 to 41.88 in 2022 suggests a potential decrease in the company's efficiency in generating sales from its working capital.

It is important to further investigate the reasons behind this decrease in order to assess the potential impact on the company's overall financial performance and operational efficiency.