VF Corporation (VFC)

Working capital turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	10,184,200	11,421,200	11,695,000	9,105,780	10,488,600
Total current assets	US$ in thousands	4,226,950	5,152,710	4,588,080	4,785,870	5,027,020
Total current liabilities	US$ in thousands	3,456,980	3,545,770	3,315,400	2,210,480	3,023,880
Working capital turnover		13.23	7.11	9.19	3.54	5.24

March 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $10,184,200K ÷ ($4,226,950K – $3,456,980K)
= 13.23

The working capital turnover ratio for VF Corporation has shown fluctuations over the past five years. In 2024, the ratio stands at 13.23, significantly higher than the previous year's figure of 7.11. This implies that VF Corporation is generating sales revenue at a faster rate relative to its working capital in the most recent fiscal year. It suggests strong efficiency in utilizing working capital to support sales activities. However, the ratio in 2021 was notably lower at 3.54, indicating a slower turnover of working capital to generate sales revenue during that period. Overall, the upward trend in the working capital turnover ratio from 2021 to 2024 reflects improved efficiency in managing working capital to drive sales for VF Corporation.