Bill Com Holdings Inc (BILL)

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 1,462,570 1,422,886 1,387,697 1,343,638 1,290,173 1,242,491 1,192,018 1,133,529 1,058,468 962,706 857,062 753,534 640,013 518,065 410,892 308,459 238,265 202,102 183,594 168,629
Total current assets US$ in thousands 7,238,790 6,803,830 6,839,930 6,204,200 6,306,240 6,228,480 6,956,050 6,682,120 6,673,160 6,405,230 6,748,190 6,291,980 6,279,390 6,182,550 6,492,300 5,533,210 3,606,040 3,701,800 3,985,110 2,396,620
Total current liabilities US$ in thousands 4,588,660 4,017,580 4,122,210 4,055,710 4,063,020 3,826,510 4,118,190 3,700,500 3,753,440 3,335,460 3,731,240 3,326,020 3,408,660 4,391,780 4,665,200 3,697,260 2,325,660 1,969,830 2,256,070 1,702,360
Working capital turnover 0.55 0.51 0.51 0.63 0.58 0.52 0.42 0.38 0.36 0.31 0.28 0.25 0.22 0.29 0.22 0.17 0.19 0.12 0.11 0.24

June 30, 2025 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,462,570K ÷ ($7,238,790K – $4,588,660K)
= 0.55

The working capital turnover for Bill Com Holdings Inc demonstrates a consistent upward trend over the observed period from September 30, 2020, to June 30, 2025. Starting at 0.24 in September 2020, the ratio experienced fluctuations but generally increased over time, reaching 0.55 by June 2025. Notably, the ratio shows a gradual acceleration in growth beginning around March 2022, where it was 0.29, and continuing upward through subsequent quarters. This indicates an improving efficiency in utilizing working capital to generate sales.

Throughout the period, the ratio's growth suggests that the company has been increasingly effective in managing its short-term assets and liabilities to support revenue generation. The initial lower ratios in 2020 reflect a less efficient use of working capital, while the steady increase thereafter points toward enhanced operational efficiency or changes in asset management policies.

In the most recent quarters, the working capital turnover surpasses 0.50, reaching 0.63 in September 2024 before slightly declining to 0.51 in early 2025. Overall, the rising trajectory signifies a strengthening in the company's operational performance concerning its working capital utilization, reflecting potentially improved sales efficiency or optimized working capital management strategies within this period.