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2001 Working Capital Survey - Chart 12

FOOD & BEVERAGE

1Jul


Behind the Rankings


The management of working capital combines two measures, weighted equally:
1. Days of Working Capital (DWC) = (Receivables + Inventory ­ Payables) ÷ (Sales ÷ 365 Days). If payables exceed the sum of receivables and inventory, DWC is negative.
2. Cash Conversion Efficiency (CCE) = Cash Flow from Operations ÷ Sales.

The overall ranking: (Highest Overall CCE ­ Company CCE) ÷ (Highest Overall CCE ­ Lowest Overall CCE) + (Lowest Overall DWC ­ Company DWC) ÷ (Lowest Overall DWC ­ Highest Overall DWC). Days of Sales Outstanding (DSO), Inventory Turns, and Days of Payables Outstanding (DPO) are not part of the overall ranking criteria. Industry averages consider all companies in an industry, not just the top five.

Sources: REL Consultancy Group, Piranha Web




Back to "Forget the Float? — The 2001 Working Capital Survey"

FOOD & BEVERAGE
Over- all RankCompany NamePrior Year SalesCash Conver. Effic.Days Working CapitalDays Sales Outst.Inven. TurnsDays Payable Outst.
CCERk.DWCRk.DSORk.Ts.Rk.DPORk.
40COCA COLA CO$20,45818%127(15)113228465376663
59PEPSICO INC$20,43816%173(14)143431193396472
72ANHEUSER BUSCH COS INC$12,26219%1211092191551225829483
87RALSTON PURINA CO$2,76320%103262245357874656756
149COCA COLA ENTERPRISES INC$14,7509%452(10)1734309152096088
158GENERAL MILLS INC$6,70011%31767627216653146169
162CAMPBELL SOUP CO$6,26716%1783327731264559729463
198PEPSI BOTTLING GROUP INC$7,98210%415987403751520445185
208ADOLPH COORS CO$2,41410%39013121181511226426585
214WM WRIGLEY JR CO$2,14618%1316255832281481815896
220DEAN FOODS CO$4,0668%474781292421718339258
238COCA COLA BOTTLING CO CONSOLI- DATED$9958%48113128282231324531421
269PEPSI- AMERICAS INC NEW$2,52810%39827234383501128731416
274KEEBLER FOODS CO$2,7578%5421614213105650121745
286KELLOGG CO$6,95512%3064237536332744519807
297SUIZA FOODS CORP$5,7566%65013122383511816642210
341AGRIBRANDS INTER- NATIONAL INC$1,1935%70715135241881225935317
355EARTHGRAINS CO$2,0396%61326222383581422828512
371DREYER S GRAND ICE CREAM INC$1,1945%72417152272151520028496
428PILGRIM S PRIDE CORP$1,4997%5804035219156841922696
440SARA LEE CORP$17,5119%4565347634301474135319
449IBP INC$16,9502%84315136171412412517872
462CBR BREWING CO INC$9868%52749444353141226311947
472HORMEL FOODS CORP$3,6756%6374136428233932515888
477MCCORMICK & CO INC$2,12410%4216154744441561529472
484INTER- NATIONAL MULTIFOODS CORP$2,3852%83220173191541324124632
508H J HEINZ CO$9,4089%4466457345456475439262
519FLOWERS INDUSTRIES INC$4,2364%7263833532287654126578
548SENSIENT TECH- NOLOGIES CORP$92011%3238272554582388656101
551TYSON FOODS INC$7,1587%5506053829246650718847
560CORN PRODUCTS INTER- NATIONAL INC$1,86510%3917568055607745525616
569HERSHEY FOODS CORP$4,2219%4597163534308469913936
572RALCORP HOLDINGS INC NEW$8096%6615348436333656333381
578CONAGRA FOODS INC$25,3865%7144843124185655430447
580SMITHFIELD FOODS INC$5,1503%81837312221761030820765
582IMPERIAL SUGAR CO TX$1,8213%8073832318148840223663
665BROWN FORMAN CORP$2,13411%3299883250536296945176
666J M SMUCKER CO$6328%5267870133292382323665
684ARCHER DANIELS MIDLAND CO$12,8776%6267264052554564050136
690DEL MONTE FOODS CO$1,4624%728625573025939226567
707AURORA FOODS INC DE$1,0002%8455247037347474929484
718VLASIC FOODS INTER- NATIONAL INC$9021%8755045328237562929491
755DOLE FOOD CO INC$4,7633%8116457947482839122715
793CHIQUITA BRANDS INTER- NATIONAL INC$2,2541%9055953229249562731419
901SEABOARD CORP$1,5840%9338373750530746916883
904SENECA FOODS CORP$6056%67111489424191386926583
954CONSTEL- LATION BRANDS INC$2,3405%68514495151541294722718
451Industry Average$5,5398% 43 33 8 32 



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