Azenta Inc (AZTA)
Working capital turnover
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 651,150 | 662,379 | 657,005 | 645,780 | 669,996 | 633,011 | 598,573 | 594,894 | 554,493 | 549,230 | 729,759 | 867,038 | 977,448 | 948,755 | 854,265 | 795,637 | 753,076 | 1,246,466 | 1,227,754 | 1,182,711 |
| Total current assets | US$ in thousands | 832,807 | 967,658 | 1,190,070 | 1,382,800 | 1,418,960 | 1,510,840 | 1,585,730 | 1,619,980 | 2,459,350 | 2,575,300 | 3,043,090 | 796,729 | 777,366 | 717,217 | 724,490 | 675,156 | 649,453 | 602,011 | 572,528 | 663,469 |
| Total current liabilities | US$ in thousands | 204,839 | 202,574 | 202,999 | 235,620 | 210,928 | 203,627 | 212,644 | 249,026 | 230,546 | 194,927 | 617,963 | 341,800 | 345,088 | 311,060 | 265,646 | 225,770 | 211,118 | 205,805 | 197,035 | 282,952 |
| Working capital turnover | 1.04 | 0.87 | 0.67 | 0.56 | 0.55 | 0.48 | 0.44 | 0.43 | 0.25 | 0.23 | 0.30 | 1.91 | 2.26 | 2.34 | 1.86 | 1.77 | 1.72 | 3.15 | 3.27 | 3.11 |
September 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $651,150K ÷ ($832,807K – $204,839K)
= 1.04
Azenta Inc's working capital turnover has shown fluctuations over the past few quarters. The working capital turnover ratio measures the efficiency of a company in using its working capital to generate sales revenue. A higher ratio indicates more efficient utilization of working capital.
From the data provided, we can see that the working capital turnover ratio ranged from as low as 0.23 in Jun 2022 to as high as 3.27 in Jun 2020. The ratio has experienced ups and downs, with some quarters showing improvements in efficiency while others showing a decrease.
In the most recent quarter, Sep 2024, the working capital turnover ratio was 1.04, indicating that Azenta Inc generated $1.04 in sales for every dollar of working capital invested. This represents an improvement from the previous quarter.
Overall, it is essential for Azenta Inc to closely monitor its working capital turnover ratio to ensure optimal management of its working capital and maximize efficiency in generating sales revenue. Further analysis and comparison with industry benchmarks can provide additional insights into the company's operational efficiency and financial performance.
Peer comparison
Sep 30, 2024