VF Corporation (VFC)

Working capital turnover

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	9,642,930	9,877,750	10,004,120	10,280,410	10,459,450	10,820,470	11,390,860	11,437,220	11,612,480	11,697,530	11,791,240	11,908,880	11,841,840	11,599,850	10,947,010	10,357,090	9,238,820	8,758,570	9,171,780	9,956,730
Total current assets	US$ in thousands	3,786,100	5,021,480	6,458,860	4,349,130	4,226,950	4,935,930	5,243,560	5,213,560	5,152,710	5,243,980	5,688,240	4,611,710	4,588,080	4,600,650	4,969,870	4,564,140	4,785,870	7,285,220	6,680,210	6,261,140
Total current liabilities	US$ in thousands	2,697,850	3,226,910	4,982,430	4,408,970	3,456,980	3,997,280	3,544,830	3,816,440	3,545,770	4,546,230	5,345,990	3,464,000	3,315,400	3,223,880	3,384,360	3,071,450	2,210,480	2,498,020	2,084,530	1,715,460
Working capital turnover		8.86	5.50	6.78	—	13.58	11.53	6.71	8.19	7.23	16.76	34.45	10.38	9.30	8.43	6.90	6.94	3.59	1.83	2.00	2.19

March 31, 2025 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $9,642,930K ÷ ($3,786,100K – $2,697,850K)
= 8.86

VF Corporation's working capital turnover has exhibited fluctuations over the analyzed periods. The ratio started at 2.19 on June 30, 2020, decreased to 1.83 by December 31, 2020, and then showed a significant improvement reaching 10.38 on June 30, 2022.

The trend continued with further increases, peaking at 34.45 on September 30, 2022, before experiencing a notable decline to 5.51 by December 31, 2024. The ratio was not available for some periods, indicating potential data issues or changes in reporting practices.

Overall, the working capital turnover ratio reflects the efficiency with which VF Corporation is utilizing its working capital to generate sales. A higher ratio suggests that the company is effectively managing its working capital to support revenue generation. However, the significant fluctuations observed in the ratio indicate varying efficiencies in working capital management over the analyzed periods. Further analysis and context would be needed to better understand the underlying reasons for these fluctuations.