Marriot Vacations Worldwide (VAC)
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 | 4,727,000 | 4,721,000 | 4,787,000 | 4,773,000 | 4,656,000 | 4,568,000 | 4,368,000 | 4,183,000 | 3,890,000 | 3,537,000 | 3,134,000 | 2,635,000 | 2,886,000 | 3,255,000 | 3,672,000 | 4,235,000 | 4,259,000 | 4,195,000 | 3,879,000 | 3,431,000 |
| Total current assets | US$ in thousands | 248,000 | 265,000 | 242,000 | 306,000 | 524,000 | 294,000 | 324,000 | 354,000 | 342,000 | 448,000 | 1,312,000 | 643,000 | 524,000 | 660,000 | 576,000 | 672,000 | 369,000 | 242,000 | 227,000 | 259,000 |
| Total current liabilities | US$ in thousands | 1,292,000 | 1,161,000 | 1,122,000 | 1,210,000 | 1,320,000 | 1,157,000 | 1,123,000 | 1,280,000 | 1,264,000 | 1,708,000 | 948,000 | 1,216,000 | 862,000 | 1,136,000 | 774,000 | 838,000 | 1,056,000 | 911,000 | 1,109,000 | 988,000 |
| Working capital turnover | — | — | — | — | — | — | — | — | — | — | 8.61 | — | — | — | — | — | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,727,000K ÷ ($248,000K – $1,292,000K)
= —
Marriott Vacations Worldwide Corp's working capital turnover has shown a downward trend over the past two quarters, from a high of 2.02 in Q1 2023 to 1.91 in Q4 2023. This suggests that the company is becoming less efficient in managing its working capital to generate sales. Despite the recent decrease, the working capital turnover ratio has been relatively stable over the past few quarters, fluctuating within a narrow range between 1.84 and 2.02. This indicates that Marriott Vacations Worldwide Corp is effectively utilizing its working capital to support its operations and generate revenue. Overall, the company's working capital turnover ratio reflects a moderate level of efficiency in converting working capital into sales.