Vistra Energy Corp (VST)
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 | 14,778,000 | 15,569,000 | 16,629,000 | 15,028,000 | 13,728,000 | 13,173,000 | 11,018,000 | 11,995,000 | 12,077,000 | 11,287,000 | 11,848,000 | 11,792,000 | 11,443,000 | 11,779,000 | 11,421,000 | 11,744,000 | 11,809,000 | 11,511,000 | 11,560,000 | 11,302,000 |
| Total current assets | US$ in thousands | 11,637,000 | 10,699,000 | 8,911,000 | 9,512,000 | 11,116,000 | 13,145,000 | 15,153,000 | 10,913,000 | 7,883,000 | 7,846,000 | 4,749,000 | 3,688,000 | 3,429,000 | 3,757,000 | 4,037,000 | 4,559,000 | 4,114,000 | 4,128,000 | 4,539,000 | 3,324,000 |
| Total current liabilities | US$ in thousands | 9,823,000 | 8,748,000 | 7,626,000 | 8,162,000 | 10,337,000 | 11,911,000 | 14,499,000 | 9,865,000 | 5,843,000 | 7,922,000 | 5,223,000 | 5,406,000 | 3,036,000 | 3,383,000 | 4,631,000 | 4,604,000 | 4,574,000 | 3,915,000 | 3,657,000 | 3,238,000 |
| Working capital turnover | 8.15 | 7.98 | 12.94 | 11.13 | 17.62 | 10.68 | 16.85 | 11.45 | 5.92 | — | — | — | 29.12 | 31.49 | — | — | — | 54.04 | 13.11 | 131.42 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $14,778,000K ÷ ($11,637,000K – $9,823,000K)
= 8.15
The working capital turnover ratio measures how efficiently a company is able to utilize its working capital to generate sales revenue. Looking at the historical trend for Vistra Corp, we observe fluctuations in the working capital turnover ratio over the past eight quarters.
In Q4 2023, Vistra Corp achieved a working capital turnover ratio of 8.15, indicating that for every dollar of working capital invested, the company generated $8.15 in sales revenue. This was slightly higher than the ratio in Q3 2023, which stood at 7.98.
The highest working capital turnover ratio in the dataset was recorded in Q4 2022 at 17.62, suggesting a greater efficiency in utilizing working capital to generate sales revenue. Conversely, the lowest ratio was seen in Q3 2022 at 10.68.
Overall, the working capital turnover ratio for Vistra Corp has shown variability over the periods analyzed. It is important for the company to assess the reasons behind these fluctuations and work towards maintaining a consistent and optimal level of efficiency in utilizing its working capital to drive sales.
Peer comparison
Dec 31, 2023