ANI Pharmaceuticals Inc (ANIP)

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	454,334	417,871	370,670	328,961	287,962	256,461	229,582	208,526	202,730	205,047	205,953	205,960	203,642	194,356	195,209	203,434	206,547	215,703	215,069	207,980
Total current assets	US$ in thousands	519,816	497,220	459,311	364,753	344,261	309,377	322,399	301,399	321,775	191,384	191,799	182,798	170,321	165,819	156,544	158,662	187,695	182,386	168,912	151,832
Total current liabilities	US$ in thousands	145,477	134,352	122,865	125,825	99,439	81,627	96,312	79,532	87,537	84,872	89,454	82,768	78,565	75,900	79,088	79,356	61,676	170,707	166,794	165,068
Working capital turnover		1.21	1.15	1.10	1.38	1.18	1.13	1.02	0.94	0.87	1.93	2.01	2.06	2.22	2.16	2.52	2.57	1.64	18.47	101.54	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $454,334K ÷ ($519,816K – $145,477K)
= 1.21

ANI Pharmaceuticals Inc's working capital turnover has shown some fluctuations over the past eight quarters. The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales revenue. A higher ratio indicates that the company is efficiently using its working capital to support its operations and generate sales.

In Q1 2023, the working capital turnover ratio was at its highest value of 1.50, indicating that ANI Pharmaceuticals Inc was effectively using its working capital to generate sales during that period. However, the ratio decreased in Q2 and Q3 2023, suggesting a slight decrease in efficiency in utilizing working capital during those quarters.

Overall, ANI Pharmaceuticals Inc's working capital turnover ratio has remained above 1.0 over the past eight quarters, indicating that the company has been effectively managing its working capital to support its sales activities. Monitoring this ratio over time can provide insights into the company's operational efficiency and management of working capital.