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 | 10,454,700 | 11,612,500 | 11,841,800 | 9,238,830 | 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 | 13.58 | 7.23 | 9.30 | 3.59 | 5.24 |
March 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $10,454,700K ÷ ($4,226,950K – $3,456,980K)
= 13.58
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.
Peer comparison
Mar 31, 2024