Wabash National Corporation (WNC)
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 | 2,536,500 | 2,597,849 | 2,620,171 | 2,576,320 | 2,502,129 | 2,323,957 | 2,151,373 | 1,958,026 | 1,803,268 | 1,728,069 | 1,597,087 | 1,486,818 | 1,481,889 | 1,656,812 | 1,886,136 | 2,173,036 | 2,319,136 | 2,350,331 | 2,322,496 | 2,309,133 |
| Total current assets | US$ in thousands | 681,353 | 721,043 | 728,428 | 682,920 | 592,619 | 674,516 | 707,427 | 695,937 | 529,705 | 582,164 | 587,984 | 620,644 | 545,764 | 566,508 | 502,849 | 577,057 | 541,389 | 621,386 | 615,449 | 647,310 |
| Total current liabilities | US$ in thousands | 352,209 | 393,217 | 433,410 | 424,401 | 347,468 | 397,364 | 432,688 | 372,660 | 289,325 | 287,977 | 282,549 | 298,578 | 235,753 | 279,791 | 232,114 | 269,535 | 259,378 | 325,662 | 321,314 | 360,583 |
| Working capital turnover | 7.71 | 7.92 | 8.88 | 9.97 | 10.21 | 8.39 | 7.83 | 6.06 | 7.50 | 5.87 | 5.23 | 4.62 | 4.78 | 5.78 | 6.97 | 7.07 | 8.22 | 7.95 | 7.90 | 8.05 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,536,500K ÷ ($681,353K – $352,209K)
= 7.71
The working capital turnover of Wabash National Corp. has exhibited fluctuations over the past eight quarters. The ratio peaked at 10.21 in Q4 2022, indicating that the company generated $10.21 in revenue for every dollar of working capital invested. However, it gradually declined in subsequent quarters, reaching the lowest point of 6.06 in Q1 2022.
Overall, the trend suggests that the company's efficiency in utilizing its working capital to generate revenue has been somewhat unstable. Strengthening working capital turnover rates in the future could indicate improved operational efficiency and potentially more effective management of the company's current assets and liabilities. It would be advisable for stakeholders to closely monitor this ratio to assess the company's financial health and operational performance.