A10 Network (ATEN)

Working capital turnover

Dec 31, 2024 Sep 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 Dec 31, 2019
Revenue (ttm) US$ in thousands 270,297 255,634 255,392 251,700 262,318 275,268 276,946 280,441 273,478 266,347 257,358 250,042 242,026 233,274 226,605 225,526 223,187 219,382 216,035 212,406
Total current assets US$ in thousands 307,288 283,837 276,098 271,824 264,631 256,465 244,993 256,991 237,585 271,665 252,233 284,019 267,320 250,635 244,975 242,303 235,322 222,786 219,050 220,939
Total current liabilities US$ in thousands 123,573 127,038 112,860 111,069 111,331 107,078 103,045 118,248 122,279 122,459 109,332 116,085 103,224 103,342 99,018 107,780 96,777 96,258 90,898 97,581
Working capital turnover 1.47 1.63 1.56 1.57 1.71 1.84 1.95 2.02 2.37 1.79 1.80 1.49 1.47 1.58 1.55 1.68 1.61 1.73 1.69 1.72

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $270,297K ÷ ($307,288K – $123,573K)
= 1.47

The working capital turnover ratio for A10 Network has shown some fluctuations over the analyzed period. It peaked at 2.37 on September 30, 2022, indicating that the company generated $2.37 in net sales for every dollar of working capital invested during that period. This suggests efficient utilization of working capital in generating revenue.

However, there have been periods where the working capital turnover ratio decreased, such as on September 30, 2021, when it dropped to 1.47. This could signal a decrease in efficiency in utilizing working capital to generate sales.

Overall, the trend in the working capital turnover ratio for A10 Network indicates some variability, with some periods showing better efficiency than others. It is essential for the company to closely monitor and manage its working capital to ensure optimal utilization and efficient operations.