Bristol-Myers Squibb Company (BMY)

Working capital turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	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	26,145,000	24,173,000	23,857,000	23,288,000
Total current assets	US$ in thousands	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	29,354,000	40,191,000	37,716,000	17,093,000
Total current liabilities	US$ in thousands	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	18,304,000	10,489,000	9,711,000	8,841,000
Working capital turnover		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	2.37	0.81	0.85	2.82

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $45,006,000K ÷ ($31,770,000K – $22,262,000K)
= 4.73

Bristol-Myers Squibb Co.'s working capital turnover has varied over the past eight quarters. The working capital turnover ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.

In Q3 2023, the working capital turnover ratio was notably high at 10.78, which could signify a rapid turnover of working capital into sales. This sudden increase from the previous quarter suggests improved efficiency in managing working capital.

However, this significant spike may be an anomaly as the ratio had been relatively stable in the preceding quarters, ranging from 4.73 to 8.57. The company seems to have generally maintained a consistent level of working capital efficiency, with occasional improvements or declines.

Overall, Bristol-Myers Squibb Co. should continue monitoring its working capital turnover to ensure optimal utilization of resources and timely conversion into revenue.