Biomarin Pharmaceutical Inc (BMRN)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,374,190	2,068,670	1,832,750	1,823,140	1,680,280
Total current assets	US$ in thousands	2,956,090	2,751,460	2,274,380	2,342,220	1,942,140
Total current liabilities	US$ in thousands	1,177,020	588,884	546,497	492,548	932,503
Working capital turnover		1.33	0.96	1.06	0.99	1.66

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,374,190K ÷ ($2,956,090K – $1,177,020K)
= 1.33

Biomarin Pharmaceutical Inc's working capital turnover has fluctuated over the past five years. It stood at 1.33 in 2023, an increase from the previous year's 0.96. This indicates that the company generated $1.33 in net revenue for every dollar of working capital invested in the business. The trend over the period shows some variability, with the ratio peaking at 1.66 in 2019 and dropping to 0.99 in 2020 before increasing again in 2021 and 2023. Overall, a higher working capital turnover ratio suggests more efficient utilization of working capital to generate sales revenue. Biomarin Pharmaceutical Inc's ability to manage its working capital effectively contributes positively to its overall financial performance.