Xerox Corp (XRX)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,029,000 | 7,162,000 | 7,264,000 | 7,275,000 | 7,228,000 | 7,131,000 | 7,170,000 | 7,234,000 | 7,299,000 | 7,375,000 | 7,384,000 | 7,080,000 | 7,189,000 | 7,720,000 | 8,175,000 | |||
| Total current assets | US$ in thousands | 3,177,000 | 3,354,000 | 3,390,000 | 3,640,000 | 4,107,000 | 3,895,000 | 4,102,000 | 4,566,000 | 4,701,000 | 5,236,000 | 5,175,000 | 5,420,000 | 5,783,000 | 6,541,000 | 5,391,000 | 5,977,000 | 6,140,000 | 4,340,000 |
| Total current liabilities | US$ in thousands | 2,779,000 | 3,006,000 | 2,949,000 | 2,879,000 | 3,330,000 | 3,343,000 | 3,415,000 | 3,769,000 | 2,829,000 | 2,784,000 | 2,691,000 | 2,645,000 | 2,478,000 | 3,327,000 | 3,791,000 | 3,373,000 | 3,435,000 | 3,923,000 |
| Working capital turnover | 17.66 | 20.58 | 16.47 | 9.56 | 9.30 | 12.92 | 10.44 | 9.08 | 3.90 | 3.01 | 2.97 | 2.55 | 2.18 | 2.40 | 5.11 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,029,000K ÷ ($3,177,000K – $2,779,000K)
= 17.66
Xerox Holdings Corp's working capital turnover has shown variability over the past eight quarters. In Q4 2023, the working capital turnover ratio stood at 17.30, indicating that the company generated sales revenue 17.30 times for every dollar invested in working capital during the quarter. This represents a significant improvement compared to previous quarters, particularly when compared to Q4 2022, where the ratio was 9.15.
However, it is noteworthy that data for Q3 2023, Q2 2023, and Q1 2023 are not available, limiting a full comparison of the trend. Looking at historical data, the working capital turnover has fluctuated between 8.78 and 12.58 in the preceding quarters.
In general, a higher working capital turnover ratio is favorable as it indicates that the company is efficiently utilizing its working capital to generate sales. The significant increase in Q4 2023 suggests a potential improvement in Xerox Holdings Corp's efficiency in managing its working capital during that period. Further analysis and access to missing data points would be necessary to provide a more comprehensive assessment of the company's working capital turnover trend.
Peer comparison
Dec 31, 2023