Bruker Corporation (BRKR)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,964,500	2,530,700	2,417,900	1,987,500	2,072,600
Total current assets	US$ in thousands	2,164,200	2,113,200	2,471,800	1,925,000	1,796,300
Total current liabilities	US$ in thousands	1,202,100	914,300	938,500	791,900	645,600
Working capital turnover		3.08	2.11	1.58	1.75	1.80

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,964,500K ÷ ($2,164,200K – $1,202,100K)
= 3.08

Bruker Corp's working capital turnover has shown a positive trend over the past five years. The ratio has steadily increased from 1.80 in 2019 to 3.08 in 2023. This indicates that the company has been able to efficiently utilize its working capital to generate sales revenue. A higher working capital turnover ratio suggests that the company is managing its working capital more effectively, which can lead to improved liquidity and operational efficiency. The consistent improvement in this ratio reflects Bruker Corp's ability to optimize its working capital to support its business operations and growth.