Axcelis Technologies Inc (ACLS)

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 Jun 30, 2019 Mar 31, 2019
Revenue (ttm) US$ in thousands 1,130,604 1,086,367 1,023,216 970,423 919,998 859,631 807,150 733,247 662,428 578,943 512,654 488,345 474,560 460,084 419,132 370,472 342,958 340,918 366,839 411,867
Total current assets US$ in thousands 1,079,990 1,015,040 950,169 934,442 877,645 775,142 679,728 648,706 619,246 570,144 514,131 479,592 470,791 435,768 420,699 391,672 375,679 353,915 345,357 380,412
Total current liabilities US$ in thousands 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 68,664 63,027 52,084 66,058
Working capital turnover 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 1.12 1.17 1.25 1.31

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,130,604K ÷ ($1,079,990K – $285,129K)
= 1.42

Based on the working capital turnover ratios provided for Axcelis Technologies Inc, we can see that the company's efficiency in managing its working capital has been relatively consistent over the past eight quarters. The working capital turnover ratio measures how effectively a company is utilizing its working capital to generate sales revenue.

The working capital turnover ratios range from 1.42 to 1.53, with slight fluctuations quarter over quarter. A higher ratio indicates that the company is generating more revenue per unit of working capital employed. Axcelis Technologies Inc's working capital turnover has ranged between 1.42 and 1.53, indicating that, on average, the company generates around $1.46 to $1.52 of revenue for every dollar of working capital invested.

While the ratios have shown minor variations, the overall trend suggests that Axcelis Technologies Inc has been efficient in managing its working capital to support its sales activities. It is essential for the company to continue monitoring and optimizing its working capital turnover to ensure efficient use of resources and sustainable growth in the future.


Peer comparison

Dec 31, 2023

Company name
Symbol
Working capital turnover
Axcelis Technologies Inc
ACLS
1.42
Azenta Inc
AZTA
1.04
Lam Research Corp
LRCX
1.74
Veeco Instruments Inc
VECO
1.34