Boston Scientific Corp (BSX)

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 13,974,000 10,508,000 10,348,000 9,999,000 9,228,000 12,104,000 11,689,000 11,502,000 11,625,000 11,168,000 10,855,000 9,774,000 9,553,000 9,751,000 9,790,000 10,420,000 10,349,000 10,035,000 9,758,000 9,649,000
Total current assets US$ in thousands 6,514,000 6,504,000 5,886,000 5,704,000 5,760,000 5,144,000 5,083,000 5,065,000 6,317,000 6,229,000 6,758,000 6,101,000 6,694,000 6,160,000 5,803,000 4,823,000 4,699,000 4,847,000 6,334,000 6,234,000
Total current liabilities US$ in thousands 4,933,000 4,579,000 4,562,000 4,083,000 3,803,000 3,549,000 3,883,000 4,275,000 4,274,000 4,022,000 4,073,000 3,393,000 3,681,000 3,302,000 3,108,000 3,976,000 4,866,000 4,254,000 4,850,000 4,479,000
Working capital turnover 8.84 5.46 7.82 6.17 4.72 7.59 9.74 14.56 5.69 5.06 4.04 3.61 3.17 3.41 3.63 12.30 16.92 6.58 5.50

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $13,974,000K ÷ ($6,514,000K – $4,933,000K)
= 8.84

The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue. Boston Scientific Corp. has shown fluctuations in its working capital turnover ratio over the past eight quarters.

In Q4 2023, the working capital turnover ratio was 9.01, indicating that the company generated $9.01 in sales for every $1 of working capital invested. This ratio improved from the previous quarter, Q3 2023, where the ratio was 7.14. This suggests that in Q4 2023, Boston Scientific Corp. was able to utilize its working capital more efficiently to drive sales.

Looking further back, the working capital turnover ratio was 10.11 in Q2 2023 and 8.05 in Q1 2023. The ratio has shown volatility over the quarters, with the highest ratio in this period recorded in Q2 2022 at 15.39 and the lowest in Q4 2022 at 6.48.

Overall, the trend in the working capital turnover ratio for Boston Scientific Corp. has been fluctuating, indicating variability in how effectively the company manages its working capital to generate sales revenue. It is essential for the company to closely monitor and manage its working capital to ensure optimal efficiency in its operations and financial performance.


Peer comparison

Dec 31, 2023


See also:

Boston Scientific Corp Working Capital Turnover (Quarterly Data)