Calix Inc (CALX)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,040,390 | 868,127 | 679,394 | 537,325 | 421,694 |
| Total current assets | US$ in thousands | 597,956 | 547,370 | 409,245 | 266,890 | 143,817 |
| Total current liabilities | US$ in thousands | 187,642 | 165,422 | 128,136 | 101,040 | 115,493 |
| Working capital turnover | 2.54 | 2.27 | 2.42 | 3.24 | 14.89 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,040,390K ÷ ($597,956K – $187,642K)
= 2.54
The working capital turnover ratio for Calix Inc has shown some fluctuations over the past five years. The ratio has ranged from a low of 2.27 in 2022 to a high of 14.98 in 2019.
A higher ratio indicates that the company is able to efficiently utilize its working capital to generate sales revenue. In the case of Calix Inc, the significant drop in the working capital turnover ratio from 2019 to 2020 could indicate a change in the company's working capital management or sales performance during that period.
Overall, the working capital turnover ratio for Calix Inc has remained above 2, which suggests that the company has generally been effective in turning its working capital into sales revenue. However, further analysis would be needed to understand the specific drivers behind the fluctuations in this ratio over the years.
Peer comparison
Dec 31, 2023