AMN Healthcare Services Inc (AMN)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,735,110	5,201,280	3,947,290	2,326,690	2,222,110
Total current assets	US$ in thousands	841,685	1,093,640	1,349,070	533,735	560,499
Total current liabilities	US$ in thousands	656,121	857,933	969,390	422,957	378,105
Working capital turnover		20.13	22.07	10.40	21.00	12.18

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,735,110K ÷ ($841,685K – $656,121K)
= 20.13

AMN Healthcare Services Inc.'s working capital turnover has fluctuated over the past five years. The company's working capital turnover ratio stood at 20.42 in 2023, reflecting a decrease from 22.24 in 2022. This decline indicates that the company may have taken longer to convert its working capital into revenue in 2023 compared to the previous year.

In 2021, the working capital turnover ratio was 10.49, significantly lower than the ratios in 2022 and 2023. This could suggest that the company faced challenges in efficiently utilizing its working capital during that period.

The ratio improved in 2020 with a figure of 21.61, indicating a more efficient management of working capital compared to 2021. Additionally, in 2019, the working capital turnover was 12.18, showing a moderate efficiency in converting working capital into revenue.

Overall, the trend in AMN Healthcare Services Inc.'s working capital turnover reflects variations in the company's ability to utilize its working capital effectively to generate sales revenue over the five-year period.