Bristol-Myers Squibb Company (BMY)

Working capital turnover

		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	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	48,300,000	47,435,000	46,509,000	45,534,000	45,006,000	44,935,000	45,187,000	45,848,000	46,159,000	46,738,000	47,144,000	46,960,000	46,385,000	45,468,000	44,384,000	42,810,000	42,518,000	39,395,000	34,862,000	31,006,000
Total current assets	US$ in thousands	29,780,000	28,075,000	26,890,000	28,669,000	31,770,000	27,632,000	28,074,000	27,086,000	27,273,000	26,796,000	30,186,000	30,121,000	33,262,000	31,443,000	29,161,000	27,111,000	30,192,000	34,277,000	34,343,000	31,853,000
Total current liabilities	US$ in thousands	23,774,000	22,638,000	23,265,000	25,822,000	22,262,000	23,462,000	20,150,000	19,085,000	21,890,000	18,930,000	20,915,000	22,821,000	21,868,000	21,460,000	18,991,000	17,330,000	19,080,000	20,464,000	23,421,000	19,232,000
Working capital turnover		8.04	8.72	12.83	15.99	4.73	10.78	5.70	5.73	8.57	5.94	5.09	6.43	4.07	4.55	4.36	4.38	3.83	2.85	3.19	2.46

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $48,300,000K ÷ ($29,780,000K – $23,774,000K)
= 8.04

The working capital turnover of Bristol-Myers Squibb Company has shown significant fluctuations over the years, ranging from a low of 2.46 in March 2020 to a high of 15.99 in March 2024. The working capital turnover ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.

A higher working capital turnover ratio suggests that the company is effectively managing its working capital to support its sales activities. It can be seen that there was an increasing trend in the working capital turnover ratio from March 2020 to March 2024, indicating improved efficiency in utilizing its working capital during this period.

However, the ratio experienced some fluctuations in the last few quarters of 2024, possibly indicating changes in the company's working capital management practices or its sales activities. It is important for Bristol-Myers Squibb Company to monitor and analyze the factors contributing to these fluctuations to ensure optimal utilization of its working capital for continued growth and profitability.