World Kinect Corporation (WKC)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 47,710,600 | 59,043,100 | 31,337,000 | 20,358,300 | 36,819,000 |
| Total current assets | US$ in thousands | 4,503,800 | 5,238,100 | 4,019,700 | 2,639,300 | 4,170,100 |
| Total current liabilities | US$ in thousands | 4,049,700 | 4,608,600 | 3,096,700 | 1,684,000 | 3,162,400 |
| Working capital turnover | 105.07 | 93.79 | 33.95 | 21.31 | 36.54 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $47,710,600K ÷ ($4,503,800K – $4,049,700K)
= 105.07
The working capital turnover of World Kinect Corp has shown a consistent improvement over the past five years. The ratio has steadily increased from 36.53 in 2019 to 105.04 in 2023, indicating that the company is generating more revenue relative to its working capital. This signifies that World Kinect Corp is effectively utilizing its working capital to generate sales and indicates improved operational efficiency and liquidity management. The significant increase in the working capital turnover ratio suggests that the company has been more efficient in managing its working capital over the years, which is a positive indicator of its financial health and performance.