Avantor Inc (AVTR)

Working capital turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	6,783,600	6,967,200	7,512,400	7,386,100	6,393,600
Total current assets	US$ in thousands	2,146,600	2,384,900	2,657,900	2,477,200	2,230,900
Total current liabilities	US$ in thousands	2,007,500	1,480,300	1,658,800	1,450,800	1,242,700
Working capital turnover		48.77	7.70	7.52	7.20	6.47

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,783,600K ÷ ($2,146,600K – $2,007,500K)
= 48.77

Avantor Inc's working capital turnover has shown a positive trend over the years, increasing from 6.47 in December 31, 2020, to 7.20 in December 31, 2021, and further to 7.52 in December 31, 2022. The ratio continued to improve, reaching 7.70 in December 31, 2023. However, there was a significant spike to 48.77 in December 31, 2024, indicating a substantial increase in working capital efficiency that year. Overall, the trend suggests that Avantor Inc has been effectively utilizing its working capital to generate sales revenue, with a notable surge in efficiency in 2024.