Cactus Inc (WHD)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,136,594 | 1,090,876 | 1,013,935 | 910,546 | 774,942 | 692,436 | 630,002 | 560,884 | 499,562 | 438,080 | 377,939 | 322,365 | 280,020 | 349,742 | 420,714 | 521,621 | 623,460 | 625,996 | 625,582 | 615,274 |
| Total current assets | US$ in thousands | 616,957 | 556,178 | 492,948 | 499,069 | 527,455 | 654,642 | 626,950 | 594,527 | 546,365 | 518,485 | 491,801 | 473,779 | 439,407 | 425,142 | 411,894 | 416,666 | 435,274 | 414,883 | 386,950 | 364,535 |
| Total current liabilities | US$ in thousands | 190,670 | 175,660 | 177,367 | 180,731 | 186,566 | 116,649 | 132,187 | 113,638 | 102,457 | 92,574 | 87,951 | 73,560 | 55,056 | 48,915 | 47,997 | 58,778 | 81,414 | 91,126 | 89,580 | 92,955 |
| Working capital turnover | 2.67 | 2.87 | 3.21 | 2.86 | 2.27 | 1.29 | 1.27 | 1.17 | 1.13 | 1.03 | 0.94 | 0.81 | 0.73 | 0.93 | 1.16 | 1.46 | 1.76 | 1.93 | 2.10 | 2.27 |
March 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,136,594K ÷ ($616,957K – $190,670K)
= 2.67
The working capital turnover of Cactus Inc has shown fluctuations over the past few quarters. The working capital turnover ratio measures the efficiency of a company in utilizing its working capital to generate sales. A higher ratio indicates that the company is more efficient in converting its working capital into sales.
In the most recent quarter, as of March 31, 2024, the working capital turnover was 2.67, showing an improvement from the previous quarter's ratio of 2.87. This implies that Cactus Inc was able to generate $2.67 in sales for every dollar of working capital invested.
Looking at historical data, the working capital turnover ratio has been on an upward trend since the beginning of 2020, indicating a positive trend in the company's efficiency in utilizing its working capital to drive sales. However, there were fluctuations in the ratio in some quarters during this period.
It is important for Cactus Inc to continue monitoring and managing its working capital efficiently to maintain a healthy working capital turnover ratio, which can positively impact the company's liquidity and overall financial performance.
Peer comparison
Mar 31, 2024