Artivion Inc (AORT)

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	331,069	312,325	303,112	296,526	296,606	305,041	305,123	304,962	298,836	287,338	280,262	257,885	253,227	255,028	257,778	275,146	276,222	274,324	271,041	268,398
Total current assets	US$ in thousands	280,668	267,109	263,898	240,681	247,334	237,989	240,428	244,533	247,697	257,343	238,054	235,683	234,589	233,699	287,121	214,082	187,390	181,354	188,557	178,652
Total current liabilities	US$ in thousands	57,862	54,959	56,230	43,961	49,675	45,992	41,646	42,837	44,953	61,130	58,944	58,018	60,468	53,667	48,933	43,685	45,195	42,190	37,468	36,423
Working capital turnover		1.49	1.47	1.46	1.51	1.50	1.59	1.53	1.51	1.47	1.46	1.56	1.45	1.45	1.42	1.08	1.61	1.94	1.97	1.79	1.89

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $331,069K ÷ ($280,668K – $57,862K)
= 1.49

Artivion Inc's working capital turnover has shown some fluctuations over the past eight quarters. The company's working capital turnover ratio has ranged between 1.51 to 1.63 during this period. Generally, a higher working capital turnover ratio indicates that the company efficiently uses its working capital to generate sales revenue.

In the most recent quarter, Q4 2023, Artivion Inc's working capital turnover ratio was 1.59, which is slightly below the previous quarter's ratio of 1.60. Although the ratio has decreased slightly, it still remains within a relatively stable range.

Overall, Artivion Inc has maintained a fairly consistent level of efficiency in managing its working capital to support its sales activities. It is important for the company to continue monitoring and managing its working capital effectively to ensure optimal operational performance and financial health.