Alpha and Omega Semiconductor Ltd (AOSL)
Working capital turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 696,161,678 | 680,974 | 666,399 | 658,528 | 657,274 | 657,503 | 640,003 | 663,478 | 691,321 | 723,755 | 794,434 | 798,993 | 777,552 | 760,902 | 726,875 | 692,386 | 656,902 | 601,988 | 539,628 | 498,658 |
| Total current assets | US$ in thousands | 394,551,000 | 399,387 | 410,294 | 402,737 | 398,001 | 394,551 | 406,619 | 439,929 | 423,936 | 475,350 | 517,143 | 548,142 | 549,592 | 517,813 | 466,707 | 473,067 | 407,322 | 382,356 | 361,270 | 331,468 |
| Total current liabilities | US$ in thousands | 152,896 | 155,422 | 151,032 | 151,737 | 154,233 | 159,939 | 161,596 | 187,547 | 172,561 | 214,317 | 221,529 | 244,331 | 266,350 | 199,492 | 177,977 | 257,106 | 233,230 | 211,916 | 211,513 | 198,264 |
| Working capital turnover | 1.77 | 2.79 | 2.57 | 2.62 | 2.70 | 2.80 | 2.61 | 2.63 | 2.75 | 2.77 | 2.69 | 2.63 | 2.75 | 2.39 | 2.52 | 3.21 | 3.77 | 3.53 | 3.60 | 3.74 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $696,161,678K ÷ ($394,551,000K – $152,896K)
= 1.77
The working capital turnover ratios of Alpha and Omega Semiconductor Ltd. demonstrate fluctuations over the analyzed period from September 2020 to June 2025. Initially, the ratio was 3.74 as of September 30, 2020, indicating a relatively efficient utilization of working capital to generate sales. Throughout the subsequent quarters, the ratio experienced a gradual decline, reaching a low of 2.39 in March 2022, which may suggest a reduction in the efficiency of working capital utilization or an increase in working capital levels relative to sales.
From mid-2022 onward, the ratio shows slight recovery and stability, with values oscillating between approximately 2.63 and 2.80, reflecting a period of relative consistency in working capital management. Notably, in the most recent quarter of June 2025, the ratio sharply declines to 1.77—significantly lower than earlier levels—potentially indicating a decrease in sales efficiency or an increase in working capital relative to sales.
Overall, the trend reveals an initial decline in the working capital turnover, followed by periods of stabilization and a recent notable decrease, which could suggest shifts in operational efficiency, changes in sales volume, inventory management, or receivables and payables management. This pattern warrants further investigation into underlying operational factors to determine the causes of fluctuating efficiency levels over time.
Peer comparison
Jun 30, 2025