Vistra Energy Corp (VST)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	14,779,000	13,728,000	12,077,000	11,443,000	11,809,000
Total current assets	US$ in thousands	11,637,000	11,116,000	7,883,000	3,429,000	4,114,000
Total current liabilities	US$ in thousands	9,823,000	10,337,000	5,843,000	3,036,000	4,574,000
Working capital turnover		8.15	17.62	5.92	29.12	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $14,779,000K ÷ ($11,637,000K – $9,823,000K)
= 8.15

The working capital turnover ratio for Vistra Corp has shown fluctuations over the last five years. In 2023, the ratio was 8.15, indicating that Vistra Corp generated $8.15 in revenue for every dollar of working capital. This marked a decrease from 2022, when the ratio was significantly higher at 17.62. The drop suggests that Vistra Corp may have been less efficient in utilizing its working capital to generate sales in 2023 compared to the previous year.

In 2021, the working capital turnover ratio was 5.92, which was lower than both 2022 and 2023. This suggests that Vistra Corp's efficiency in utilizing its working capital to generate revenue improved in 2022 but then declined in 2023.

The highest working capital turnover ratio in the provided data was in 2020 at 29.12, indicating the highest level of efficiency in converting working capital into revenue during that year. Unfortunately, data for 2019 is unavailable, making it difficult to analyze the trend leading up to 2020.

Overall, Vistra Corp's working capital turnover has varied over the years, with fluctuations indicating changes in the company's efficiency in utilizing its working capital to generate revenue. Further analysis and comparison with industry benchmarks may provide additional insights into Vistra Corp's financial performance.