Worthington Industries Inc (WOR)
Working capital turnover
| Nov 30, 2024 | Aug 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,146,338 | 1,184,210 | 2,155,762 | 2,185,322 | 3,062,633 | 4,159,375 | 4,450,815 | 5,482,740 | 5,540,060 | 5,242,220 | 4,700,239 | 4,081,108 | 3,579,340 | 3,171,429 | 2,804,737 | 2,809,624 | 2,906,169 | 3,059,119 | 3,386,334 | 3,496,719 |
| Total current assets | US$ in thousands | 602,999 | 576,437 | 691,111 | 1,772,600 | 1,691,860 | 1,868,340 | 1,710,770 | 1,602,790 | 1,705,300 | 1,785,650 | 1,896,980 | 1,910,770 | 1,970,310 | 1,967,990 | 1,686,920 | 1,687,870 | 1,766,460 | 983,179 | 1,053,200 | 1,010,650 |
| Total current liabilities | US$ in thousands | 169,464 | 166,238 | 202,288 | 945,342 | 868,939 | 717,558 | 664,809 | 660,891 | 784,290 | 932,261 | 1,026,700 | 820,158 | 864,257 | 787,901 | 637,261 | 557,174 | 542,184 | 388,238 | 489,843 | 473,863 |
| Working capital turnover | 2.64 | 2.89 | 4.41 | 2.64 | 3.72 | 3.61 | 4.26 | 5.82 | 6.02 | 6.14 | 5.40 | 3.74 | 3.24 | 2.69 | 2.67 | 2.48 | 2.37 | 5.14 | 6.01 | 6.51 |
November 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,146,338K ÷ ($602,999K – $169,464K)
= 2.64
The working capital turnover ratio for Worthington Industries Inc has shown some fluctuation over the past few years. The ratio was relatively high in late 2019 and early 2020, indicating that the company was efficiently using its working capital to generate sales. However, from August 2020 to November 2020, there was a significant decline in the ratio, suggesting a decrease in the efficiency of working capital utilization.
Subsequently, the ratio improved slightly in early 2021 before experiencing a dip in May 2021. From August 2021 to November 2023, the ratio remained relatively stable but at lower levels compared to earlier periods. This could indicate challenges in managing working capital efficiently during these times.
In the later part of 2023 and into 2024, the working capital turnover ratio displayed some variability but generally remained at lower levels. This may signal ongoing struggles in optimizing working capital efficiency for the company.
Overall, Worthington Industries Inc's working capital turnover ratio has fluctuated, with periods of higher efficiency followed by declines in performance. The company may need to focus on improving its working capital management to enhance operational efficiency and maintain a healthy financial position.
Peer comparison
Nov 30, 2024