United States Steel Corporation (X)

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	18,053,000	18,247,000	19,019,000	20,301,000	21,065,000	22,349,000	23,110,000	21,845,000	20,275,000	17,215,000	13,591,000	10,657,000	9,741,000	10,003,000	10,732,000	12,186,000	12,937,000	14,876,000	15,158,000	14,855,000
Total current assets	US$ in thousands	6,943,000	7,395,000	7,835,000	7,548,000	7,866,000	8,452,000	9,035,000	8,380,000	7,152,000	6,799,000	5,638,000	4,250,000	4,432,000	4,244,000	4,924,000	4,686,000	3,813,000	4,042,000	4,547,000	4,630,000
Total current liabilities	US$ in thousands	3,948,000	3,801,000	4,072,000	4,015,000	3,959,000	4,162,000	4,568,000	4,405,000	3,852,000	4,030,000	4,451,000	3,144,000	2,656,000	2,463,000	2,141,000	2,777,000	2,625,000	2,850,000	3,223,000	3,140,000
Working capital turnover		6.03	5.08	5.05	5.75	5.39	5.21	5.17	5.50	6.14	6.22	11.45	9.64	5.48	5.62	3.86	6.38	10.89	12.48	11.45	9.97

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $18,053,000K ÷ ($6,943,000K – $3,948,000K)
= 6.03

United States Steel Corp.'s working capital turnover ratio has shown fluctuations over the past eight quarters, ranging from 5.05 to 6.03. The working capital turnover ratio measures how effectively a company utilizes its working capital to generate sales revenue. Higher ratios indicate a more efficient utilization of working capital.

In Q4 2023, the working capital turnover ratio increased to 6.03 from the previous quarter's 5.08. This suggests that the company was able to generate more sales revenue for each dollar of working capital invested during that period.

However, it's worth noting that the ratio has been somewhat volatile over the past two years, with fluctuations between 5.05 and 5.75. This volatility could indicate inconsistent management of working capital or temporary changes in the company's operating environment.

Overall, it is important for United States Steel Corp. to closely monitor its working capital turnover ratio to ensure efficient utilization of resources and maximize profitability.