Axcelis Technologies Inc (ACLS)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,130,600 | 919,998 | 662,428 | 474,560 | 342,958 |
| Total current assets | US$ in thousands | 1,079,990 | 877,645 | 619,246 | 470,791 | 375,679 |
| Total current liabilities | US$ in thousands | 285,129 | 248,132 | 150,140 | 84,431 | 68,664 |
| Working capital turnover | 1.42 | 1.46 | 1.41 | 1.23 | 1.12 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,130,600K ÷ ($1,079,990K – $285,129K)
= 1.42
Axcelis Technologies Inc's working capital turnover has shown a consistent pattern of improvement over the past five years, indicating an efficient management of working capital. The ratio has increased from 1.12 in 2019 to 1.42 in 2023, suggesting that the company is generating $1.42 in revenue for every dollar invested in working capital in the most recent year. This improvement in efficiency could be attributed to effective management of current assets and liabilities, resulting in a more streamlined and productive operational cycle. Overall, the trend of increasing working capital turnover is a positive sign of the company's strong operational performance and financial management.
Peer comparison
Dec 31, 2023