World Kinect Corporation (WKC)

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	47,710,600	49,585,300	53,001,300	59,142,700	59,043,100	55,108,200	47,797,800	37,761,200	31,337,100	26,096,400	22,228,200	18,301,000	20,358,300	25,014,300	29,854,300	36,155,400	36,819,000	37,449,500	38,556,300	39,247,700
Total current assets	US$ in thousands	4,503,800	4,591,300	4,045,100	4,613,800	5,238,100	5,049,300	5,894,000	5,025,300	4,019,700	3,693,200	3,358,600	3,064,500	2,639,300	2,534,800	2,931,400	3,533,800	4,170,100	3,969,500	3,925,000	3,894,700
Total current liabilities	US$ in thousands	4,049,700	4,114,200	3,572,000	4,153,500	4,608,600	4,568,300	5,094,700	4,412,500	3,096,700	2,696,500	2,392,600	2,092,200	1,684,000	1,557,000	1,606,600	2,109,300	3,162,400	2,910,500	2,902,300	2,873,200
Working capital turnover		105.07	103.93	112.03	128.49	93.79	114.57	59.80	61.62	33.95	26.18	23.01	18.82	21.31	25.58	22.53	25.38	36.54	35.36	37.70	38.42

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (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 fluctuated over the past eight quarters. The ratio measures how efficiently the company is utilizing its working capital to generate sales revenue.

In Q4 2023, the working capital turnover was 105.04, indicating that World Kinect Corp generated approximately $105 in sales for every dollar of working capital invested. This ratio decreased from the previous quarter but remained relatively stable compared to the same quarter in 2022.

The trend over the past two years shows variability in the working capital turnover, with some quarters performing better than others. Q1 2023 had the highest turnover at 128.46, suggesting strong working capital efficiency during that period. In contrast, Q2 2022 had the lowest turnover at 59.79, indicating lower sales generated relative to the working capital employed.

Overall, fluctuations in the working capital turnover may indicate changes in the company's operating efficiency, liquidity management, or sales generation. Further analysis of the underlying factors contributing to these fluctuations could provide valuable insights into World Kinect Corp's financial performance and operational effectiveness.