Bruker Corporation (BRKR)

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	3,366,400	3,241,300	3,119,700	3,000,900	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
Total current assets	US$ in thousands	2,053,200	2,191,400	2,153,000	2,140,400	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
Total current liabilities	US$ in thousands	1,281,300	1,322,100	1,304,500	1,182,500	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
Working capital turnover		4.36	3.73	3.68	3.13	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

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,366,400K ÷ ($2,053,200K – $1,281,300K)
= 4.36

Bruker Corporation's working capital turnover has shown a generally increasing trend over the past few years, indicating improved efficiency in utilizing its working capital. The ratio has steadily increased from 1.66 as of March 31, 2020, to 4.36 as of December 31, 2024. This suggests that the company is generating more revenue relative to its working capital, which is a positive indicator of operational efficiency and effective management of its current assets and liabilities.

The significant growth in the working capital turnover ratio indicates that Bruker Corporation has been able to efficiently utilize its working capital to support its operations and sales growth. The sharp increase from 1.58 in December 31, 2021, to 4.36 in December 31, 2024, is particularly noteworthy, reflecting a substantial improvement in the company's working capital management practices.

Overall, the increasing trend in Bruker Corporation's working capital turnover ratio signals improved efficiency in managing its working capital to support its business activities and generate higher levels of revenue relative to the investments in current assets and liabilities.