Biomarin Pharmaceutical Inc (BMRN)

Working capital turnover

		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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	2,443,023	2,373,030	2,261,604	2,184,719	2,123,138	2,059,481	1,999,471	1,903,678	1,871,615	1,827,451	1,829,463	1,891,778	1,815,339	1,822,817	1,822,364	1,813,337	1,772,797	1,694,305	1,597,556	1,518,971
Total current assets	US$ in thousands	2,985,010	2,956,090	2,955,310	2,950,120	2,842,100	2,751,460	2,682,700	2,517,600	2,394,020	2,274,380	2,311,570	2,357,840	2,288,770	2,342,220	2,738,980	2,647,570	2,116,250	1,942,140	1,859,360	1,806,770
Total current liabilities	US$ in thousands	1,087,900	1,177,020	1,163,220	597,231	598,231	588,884	521,020	464,727	490,418	546,497	514,898	443,344	430,035	492,548	854,693	813,302	820,470	932,503	493,745	439,428
Working capital turnover		1.29	1.33	1.26	0.93	0.95	0.95	0.92	0.93	0.98	1.06	1.02	0.99	0.98	0.99	0.97	0.99	1.37	1.68	1.17	1.11

March 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,443,023K ÷ ($2,985,010K – $1,087,900K)
= 1.29

The working capital turnover for Biomarin Pharmaceutical Inc has shown fluctuation over the past few quarters. The ratio measures how efficiently the company is using its working capital to generate sales revenue. A higher working capital turnover indicates that the company is efficiently managing its working capital.

In the first quarter of 2024, the working capital turnover was 1.29, which decreased slightly from 1.33 in the previous quarter. This could indicate a slight decrease in efficiency in utilizing working capital to generate revenue.

Comparing the current ratio to previous quarters, there have been fluctuations in the range of 0.92 to 1.37. The ratio was relatively stable around 0.95 to 1.06 until a significant spike to 1.37 in the first quarter of 2020, indicating a period of improved efficiency in using working capital efficiently.

It is important for investors and analysts to monitor working capital turnover over time to assess the company's operational efficiency and financial health. Fluctuations in this ratio may indicate changes in the company's ability to efficiently utilize its working capital to generate revenue.