Bristow Group Inc (VTOL)
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 | 1,297,429 | 1,273,057 | 1,242,237 | 1,224,591 | 1,209,968 | 1,192,025 | 1,186,339 | 1,185,204 | 1,191,137 | 1,205,415 | 1,208,471 | 1,178,062 | 941,786 | 832,813 | 846,393 | 909,376 | 903,613 | 754,705 | 491,095 | 215,647 |
| Total current assets | US$ in thousands | 563,583 | 557,823 | 537,777 | 525,351 | 493,125 | 524,456 | 582,786 | 579,885 | 576,464 | 559,479 | 577,395 | 585,748 | 675,889 | 672,745 | 661,088 | 524,151 | 195,861 | 182,861 | 167,072 | 119,963 |
| Total current liabilities | US$ in thousands | 309,789 | 325,704 | 293,817 | 274,412 | 285,590 | 294,408 | 337,828 | 287,755 | 288,427 | 279,123 | 293,926 | 305,120 | 325,891 | 351,231 | 358,226 | 297,978 | 50,776 | 34,396 | 29,981 | 31,517 |
| Working capital turnover | 5.11 | 5.48 | 5.09 | 4.88 | 5.83 | 5.18 | 4.84 | 4.06 | 4.14 | 4.30 | 4.26 | 4.20 | 2.69 | 2.59 | 2.79 | 4.02 | 6.23 | 5.08 | 3.58 | 2.44 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,297,429K ÷ ($563,583K – $309,789K)
= 5.11
The working capital turnover ratio for Bristow Group Inc has varied over the past several quarters, indicating the company's efficiency in utilizing its working capital to generate sales. A higher working capital turnover ratio is generally favorable as it suggests that the company is efficiently managing its working capital resources.
Looking at the data provided, the working capital turnover ratio fluctuated between 2.44 and 6.23, with the highest ratio observed in December 2019 and the lowest in March 2021. This indicates some inconsistency in the company's ability to efficiently convert its working capital into revenue during this period.
The average working capital turnover ratio for Bristow Group Inc over this timeframe appears to be around 4.53. However, it is important to note that the ratio experienced significant fluctuations, suggesting potential challenges or changes in the company's operating efficiency and liquidity management.
Further analysis of the components of working capital, such as current assets and current liabilities, and the underlying reasons for the fluctuations in the turnover ratio may provide insights into the company's working capital management effectiveness and operational performance.