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2001 Working Capital Survey - Chart 20

INDUSTRIAL DIVERSIFIED

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"

INDUSTRIAL DIVERSIFIED
Over- all RankCompany NamePrior Year SalesCash Conver. Effic.Days Working CapitalDays Sales Outst.Inven. TurnsDays Payable Outst.
CCERk.DWCRk.DSORk.Ts.Rk.DPORk.
247INGERSOLL RAND CO$7,66711%335312655762364896755
260DOVER CORP$4,44621%859179859657567819808
288GRAPHIC PACKAGING INTNL.$83119%1128877842417559527552
343PPG INDUS. INC$8,62911%326524726877756346182
350FMC CORP$3,92610%409443956270474825992
374TYCO INTNL LTD BERMUDA$28,93215%1958071771811564139261
385PAXAR CORP$64511%3395852063713567454109
473HARSCO CORP$2,00312%2927567570797840331415
480DANAHER CORP$3,77813%2668072063718656223677
481IDEX CORP$70414%2208878653577478523669
483BARNES GROUP INC$74010%4176256451549650828500
504BRIGGS & STRATTON CORP$1,5918%5375449139369840126586
528AEP INDUS. INC$7016%6335044956616744947159
565CRANE CO$1,49113%2749280852559476721734
596COOPER INDUS. INC$4,46010%3688474667762469538272
599ILLINOIS TOOL WORKS INC$9,98411%3418878763716557218844
614TENNECO AUTO. INC$3,5495%6895650652568652641221
618TIMKEN CO$2,6439%4368172249509469433380
638PITT DES MOINES INC$6293%81646417627061618936309
660HONEYWELL INTNL INC$25,0239%4588374263712560333378
677SPS TECH- NOLOGIES INC$87310%4009180255605471129461
679COOPER CAMERON CORP$1,3878%523807167079639119021
751GRIFFON CORP$1,1182%8495953045458840422705
752NATIONAL SERVICE INDUS. INC$2,5665%7007668559668651919798
761SPX CORP$2,6796%6568273677850655139255
764PARKER HANNIFIN CORP$5,3559%46010084156615474425597
768ALPINE GROUP INC$1,3708%5069682561683559138265
803WOLVERINE TUBE INC$7005%7208273247485656123675
815STANLEY WORKS$2,7496%6259481671813567128501
831KENNAMETAL INC$1,85410%38211990554588390622707
850UNOVA INC$1,8383%8218273011397556558922
869STANDEX INTER- NATIONAL CORP$6376%64410586658644480721733
871METALS USA INC$2,0222%8708071232277480428497
884BLOUNT INTNL. INC$8286%67310686967767569119823
908U S INDUS. INC NEW$3,0883%77710385268776475227539
933FLOWSERVE CORP$1,5385%71712592489922480331423
949ALBANY INTNL. CORP$85313%246185987102953295818848
960SGL CARBON AG$9828%51816397579869294125610
976PARK OHIO HOLDINGS CORP$717-1%95412993764732387036296
997SPECIAL METALS CORP$6027%565281997110968297346174
657Industry Average$3,6539% 91 63 5 35 



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