NCR Voyix Corporation (VYX)
Working capital turnover
| 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 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,826,000 | 3,412,000 | 4,718,000 | 5,828,000 | 6,857,000 | 7,903,000 | 7,858,000 | 7,869,000 | 7,844,000 | 7,869,000 | 7,798,000 | 7,478,000 | 7,156,000 | 6,753,000 | 6,441,000 | 6,248,000 | 6,207,000 | 6,462,000 | 6,656,000 | 6,882,000 |
| Total current assets | US$ in thousands | 1,671,000 | 1,825,000 | 1,064,000 | 1,238,000 | 1,206,000 | 3,093,000 | 2,954,000 | 3,070,000 | 3,082,000 | 3,191,000 | 3,054,000 | 2,976,000 | 2,876,000 | 2,778,000 | 3,106,000 | 2,612,000 | 2,478,000 | 3,997,000 | 4,136,000 | 3,777,000 |
| Total current liabilities | US$ in thousands | 1,420,000 | 1,527,000 | 1,254,000 | 1,335,000 | 1,333,000 | 2,680,000 | 2,657,000 | 2,816,000 | 2,713,000 | 2,770,000 | 2,833,000 | 2,830,000 | 2,808,000 | 2,734,000 | 2,967,000 | 2,218,000 | 2,088,000 | 2,278,000 | 2,294,000 | 2,406,000 |
| Working capital turnover | 11.26 | 11.45 | — | — | — | 19.14 | 26.46 | 30.98 | 21.26 | 18.69 | 35.29 | 51.22 | 105.24 | 153.48 | 46.34 | 15.86 | 15.92 | 3.76 | 3.61 | 5.02 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,826,000K ÷ ($1,671,000K – $1,420,000K)
= 11.26
The working capital turnover of NCR Voyix Corporation has shown fluctuations over the analyzed period from March 31, 2020, to December 31, 2024.
The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales revenue. A higher working capital turnover ratio indicates that the company is effectively managing its working capital to support sales growth.
Initially, the working capital turnover ratio was relatively stable around 3 to 5 from March 31, 2020, to September 30, 2021. However, there was a significant increase in efficiency from June 30, 2021, to December 31, 2021, with the ratio soaring to above 100. This sharp increase suggests that the company was able to generate significant sales revenue relative to its working capital during this period.
Subsequently, from March 31, 2022, to June 30, 2024, the working capital turnover ratio remained above 10, indicating continued efficiency in utilizing working capital to drive sales. However, there were some fluctuations in the ratio during this period, suggesting potential changes in the company's working capital management practices or revenue generation.
Overall, NCR Voyix Corporation's working capital turnover ratio demonstrates varying levels of efficiency in capital utilization over the analyzed period, with notable spikes and declines in performance. This analysis underscores the importance of carefully managing working capital to support sustainable sales growth and operational effectiveness.