Bruker Corporation (BRKR)

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	2,964,500	2,818,400	2,714,500	2,621,000	2,530,700	2,505,800	2,475,800	2,458,200	2,417,900	2,361,900	2,264,400	2,118,200	1,987,500	1,959,900	1,969,600	2,035,200	2,072,600	2,026,300	1,971,800	1,925,300
Total current assets	US$ in thousands	2,164,200	2,029,400	2,183,300	2,133,000	2,113,200	2,036,600	2,087,500	2,250,800	2,471,800	1,989,300	1,968,200	1,946,200	1,925,000	1,826,100	1,957,200	1,990,000	1,796,300	1,434,000	1,406,400	1,343,700
Total current liabilities	US$ in thousands	1,202,100	1,072,300	1,050,900	1,048,500	914,300	864,600	818,400	880,500	938,500	921,200	954,600	943,500	791,900	683,200	749,700	765,800	645,600	643,000	641,000	632,700
Working capital turnover		3.08	2.94	2.40	2.42	2.11	2.14	1.95	1.79	1.58	2.21	2.23	2.11	1.75	1.71	1.63	1.66	1.80	2.56	2.58	2.71

December 31, 2023 calculation

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

The working capital turnover ratio indicates how efficiently a company is using its working capital to generate sales revenue. A higher ratio typically suggests better efficiency in utilizing working capital.

Analyzing Bruker Corp's working capital turnover over the past eight quarters, we observe fluctuations in the ratio. The trend shows an overall improvement in working capital efficiency from the first quarter of 2022 to the fourth quarter of 2023.

In the most recent quarter, Q4 2023, the working capital turnover ratio of 3.08 indicates that Bruker Corp was able to generate $3.08 of sales revenue for every $1 of working capital invested. This represents an uptrend from the previous quarter's ratio of 2.94. The steady increase in this ratio over successive quarters is a positive sign of the company's improving efficiency in managing its working capital.

The highest working capital turnover ratio was observed in Q4 2023, reflecting the strongest utilization of working capital to generate sales during the period under review. This highlights the company's ability to effectively manage its current assets and liabilities to drive revenue growth.

Overall, the improving trend in Bruker Corp's working capital turnover ratio signals enhanced efficiency in utilizing its working capital resources to generate sales revenue, which is a promising indicator of the company's operational performance and financial health.