Axcelis Technologies Inc (ACLS)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,017,865 | 1,075,736 | 1,111,498 | 1,128,956 | 1,130,604 | 1,086,367 | 1,023,216 | 970,423 | 919,998 | 859,631 | 807,150 | 733,247 | 662,428 | 578,943 | 512,654 | 488,345 | 474,560 | 460,084 | 419,132 | 370,472 |
| Total current assets | US$ in thousands | 1,123,610 | 1,122,090 | 1,078,330 | 1,105,450 | 1,079,990 | 1,015,040 | 950,169 | 934,442 | 877,645 | 775,142 | 679,728 | 648,706 | 619,246 | 570,144 | 514,131 | 479,592 | 470,791 | 435,768 | 420,699 | 391,672 |
| Total current liabilities | US$ in thousands | 207,522 | 252,264 | 244,179 | 276,568 | 285,129 | 261,178 | 248,460 | 267,942 | 248,132 | 207,856 | 152,970 | 147,497 | 150,140 | 137,195 | 106,474 | 83,878 | 84,431 | 69,383 | 86,759 | 75,373 |
| Working capital turnover | 1.11 | 1.24 | 1.33 | 1.36 | 1.42 | 1.44 | 1.46 | 1.46 | 1.46 | 1.52 | 1.53 | 1.46 | 1.41 | 1.34 | 1.26 | 1.23 | 1.23 | 1.26 | 1.26 | 1.17 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,017,865K ÷ ($1,123,610K – $207,522K)
= 1.11
The working capital turnover of Axcelis Technologies Inc has shown a generally increasing trend over the past few years, starting at 1.17 in March 2020, and reaching 1.11 by December 2024. This ratio indicates how efficiently the company is using its working capital to generate sales revenue.
The increasing trend in the working capital turnover suggests that Axcelis has been able to improve its efficiency in utilizing its working capital to generate revenue over time. A higher turnover ratio implies that the company is able to effectively manage its working capital, potentially through better inventory management, receivables collection, and payable terms.
However, the slight decline in the working capital turnover ratio from its peak of 1.53 in June 2022 to 1.11 in December 2024 could indicate a potential slowdown in the efficiency of working capital utilization. It would be important for the company to closely monitor this ratio to ensure that working capital is being optimally employed to support the company's operations and growth strategies.
Peer comparison
Dec 31, 2024