Calix Inc (CALX)
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 | 1,040,393 | 1,019,662 | 992,161 | 933,187 | 868,127 | 799,743 | 735,640 | 702,268 | 679,394 | 673,001 | 651,278 | 601,631 | 541,239 | 491,404 | 455,381 | 436,662 | 424,235 | 419,560 | 419,774 | 431,172 |
| Total current assets | US$ in thousands | 597,956 | 587,625 | 599,284 | 576,074 | 547,370 | 535,176 | 460,842 | 440,222 | 409,245 | 374,759 | 350,598 | 309,769 | 266,890 | 224,843 | 158,069 | 155,715 | 143,817 | 141,860 | 148,210 | 157,084 |
| Total current liabilities | US$ in thousands | 187,642 | 139,156 | 162,447 | 160,711 | 165,422 | 180,506 | 131,244 | 141,578 | 128,136 | 117,001 | 117,549 | 109,382 | 101,040 | 92,654 | 117,247 | 128,351 | 115,493 | 123,612 | 128,707 | 135,233 |
| Working capital turnover | 2.54 | 2.27 | 2.27 | 2.25 | 2.27 | 2.25 | 2.23 | 2.35 | 2.42 | 2.61 | 2.79 | 3.00 | 3.26 | 3.72 | 11.16 | 15.96 | 14.98 | 22.99 | 21.52 | 19.73 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,040,393K ÷ ($597,956K – $187,642K)
= 2.54
Calix Inc's working capital turnover has shown relatively consistent performance over the past eight quarters, ranging from 2.23 to 2.53. This metric indicates how efficiently the company is utilizing its working capital to generate sales revenue.
A working capital turnover ratio of 2.53 in Q4 2023 suggests that, on average, Calix Inc was able to generate $2.53 in sales for every $1 of working capital invested during that period. This reveals a strong efficiency in turning working capital into revenue.
The consistent levels of working capital turnover over the quarters indicate a stable operating efficiency for the company. However, it may be worth noting any significant changes or deviations from this trend in future analyses to understand any underlying factors affecting working capital management and operational performance.
Peer comparison
Dec 31, 2023