Vishay Intertechnology Inc (VSH)
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 | 3,402,045 | 3,472,107 | 3,543,252 | 3,514,654 | 3,497,401 | 3,485,175 | 3,374,040 | 3,329,648 | 3,240,487 | 3,064,595 | 2,891,092 | 2,653,689 | 2,501,898 | 2,444,295 | 2,432,464 | 2,535,987 | 2,668,305 | 2,834,620 | 2,987,263 | 3,063,053 |
| Total current assets | US$ in thousands | 2,297,160 | 2,440,130 | 2,395,250 | 2,305,900 | 2,121,210 | 2,110,290 | 2,070,420 | 2,070,210 | 2,010,500 | 1,974,000 | 1,911,670 | 1,780,920 | 1,697,340 | 1,615,340 | 1,623,020 | 1,725,190 | 1,704,120 | 1,691,080 | 1,745,400 | 1,771,580 |
| Total current liabilities | US$ in thousands | 691,875 | 716,949 | 758,374 | 749,254 | 726,258 | 716,964 | 704,102 | 676,383 | 693,667 | 645,734 | 639,114 | 588,046 | 562,423 | 503,274 | 503,376 | 490,273 | 520,428 | 481,102 | 511,596 | 574,229 |
| Working capital turnover | 2.12 | 2.01 | 2.16 | 2.26 | 2.51 | 2.50 | 2.47 | 2.39 | 2.46 | 2.31 | 2.27 | 2.22 | 2.20 | 2.20 | 2.17 | 2.05 | 2.25 | 2.34 | 2.42 | 2.56 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,402,045K ÷ ($2,297,160K – $691,875K)
= 2.12
The working capital turnover of Vishay Intertechnology, Inc. has been fluctuating over the last eight quarters, ranging from a low of 2.01 to a high of 2.51. This indicates the company's ability to generate revenue relative to its working capital levels.
A higher working capital turnover ratio suggests that the company is efficiently using its working capital to generate sales. In the most recent quarter (Q4 2023), there was a slight decrease in the working capital turnover ratio compared to the previous quarter, indicating a potential decrease in the efficiency of working capital utilization.
Overall, the working capital turnover ratio for Vishay Intertechnology, Inc. has been relatively stable over the analyzed period, signaling a consistent ability to efficiently use its working capital to drive revenue generation. However, management should continue to monitor and optimize working capital efficiency to ensure sustainable growth and profitability.
Peer comparison
Dec 31, 2023