ANI Pharmaceuticals Inc (ANIP)

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	614,376	555,456	538,953	517,460	486,816	449,394	401,386	358,694	316,385	283,082	251,322	226,092	216,136	212,459	213,377	213,222	208,475	199,189	197,547	203,434
Total current assets	US$ in thousands	527,684	521,297	555,160	540,557	519,616	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
Total current liabilities	US$ in thousands	193,680	189,933	139,978	136,889	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
Working capital turnover		1.84	1.68	1.30	1.28	1.30	1.24	1.19	1.50	1.29	1.24	1.11	1.02	0.92	1.99	2.08	2.13	2.27	2.22	2.55	2.57

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $614,376K ÷ ($527,684K – $193,680K)
= 1.84

The working capital turnover ratio for ANI Pharmaceuticals Inc has experienced fluctuations over the period under review. From March 31, 2020, to December 31, 2021, the ratio declined gradually from 2.57 to 0.92, indicating a decreasing efficiency in turning working capital into revenue during this period.

However, from March 31, 2022, to December 31, 2024, there has been a slight recovery in the working capital turnover ratio, showing an improving trend. The ratio fluctuated between 1.02 and 1.84 during this period, indicating some variability in the company's ability to efficiently utilize its working capital to generate revenue.

Overall, the working capital turnover ratio for ANI Pharmaceuticals Inc shows a mixed performance, with periods of decline and recovery. Further analysis and examination of the company's financial health and operational efficiency would be necessary to better understand the factors contributing to these fluctuations in the working capital turnover ratio.