Bio-Rad Laboratories Inc (BIO)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,298,670 | 5,562,940 | 5,851,740 | 5,058,790 | 4,601,000 |
| Total current assets | US$ in thousands | 3,048,330 | 3,157,980 | 1,990,480 | 2,139,840 | 2,180,160 |
| Total current liabilities | US$ in thousands | 522,799 | 568,708 | 680,938 | 631,536 | 905,495 |
| Working capital turnover | 2.10 | 2.15 | 4.47 | 3.35 | 3.61 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $5,298,670K ÷ ($3,048,330K – $522,799K)
= 2.10
The working capital turnover ratio of Bio-Rad Laboratories Inc. has fluctuated over the past five years. In 2023, the working capital turnover was 1.06, indicating that the company generated $1.06 in revenue for every $1 of working capital. This represents a slight decrease from 2022, where the ratio was 1.08.
The working capital turnover was significantly higher in 2021 at 2.23, suggesting that the company generated more revenue relative to its working capital that year. However, it decreased to 1.69 in 2020 and 1.81 in 2019.
Overall, the trend in Bio-Rad Laboratories Inc.'s working capital turnover indicates some fluctuations in the efficiency of its working capital management. It is important for the company to closely monitor and optimize its working capital turnover to ensure optimal utilization of resources and maximize revenue generation.
Peer comparison
Dec 31, 2023