Ciena Corp (CIEN)
Working capital turnover
| Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Jan 31, 2019 | Jul 31, 2018 | Apr 30, 2018 | Jan 31, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,367,750 | 4,386,560 | 4,228,080 | 4,028,171 | 3,844,738 | 3,632,661 | 3,703,141 | 3,823,301 | 3,708,001 | 3,620,688 | 3,407,678 | 3,396,249 | 3,456,375 | 3,477,772 | 3,468,109 | 3,221,375 | 2,973,457 | 2,939,379 | 2,849,281 | 2,814,309 |
| Total current assets | US$ in thousands | 3,608,750 | 3,575,780 | 3,811,350 | 3,868,630 | 3,762,570 | 3,385,900 | 3,188,380 | 3,228,530 | 3,164,110 | 3,188,910 | 2,984,130 | 2,794,450 | 2,596,540 | 2,611,160 | 2,567,880 | 2,340,210 | 2,089,670 | 2,104,480 | 1,985,420 | 1,923,420 |
| Total current liabilities | US$ in thousands | 841,306 | 932,021 | 965,741 | 1,057,930 | 1,018,210 | 1,040,580 | 915,342 | 868,758 | 760,328 | 909,030 | 827,091 | 782,676 | 684,767 | 760,701 | 720,491 | 712,986 | 700,760 | 1,068,440 | 989,755 | 933,376 |
| Working capital turnover | 1.58 | 1.66 | 1.49 | 1.43 | 1.40 | 1.55 | 1.63 | 1.62 | 1.54 | 1.59 | 1.58 | 1.69 | 1.81 | 1.88 | 1.88 | 1.98 | 2.14 | 2.84 | 2.86 | 2.84 |
January 27, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,367,750K ÷ ($3,608,750K – $841,306K)
= 1.58
CIENA Corp.'s working capital turnover has experienced some fluctuations over the past several quarters. The working capital turnover ratio measures how efficiently a company is using its working capital to generate sales revenue. A higher ratio indicates that the company is effectively managing its working capital.
In the latest quarter (Q1 2024), CIENA Corp.'s working capital turnover was 1.58, which is lower than the previous quarter Q4 2023, where it was 1.66. This suggests a slight decrease in the company's efficiency in utilizing its working capital to generate sales.
Looking further back, CIENA Corp.'s working capital turnover has generally been in the range of 1.40 to 1.66 over the past few quarters. The fluctuations in the ratio indicate some variability in the company's ability to efficiently convert its working capital into sales revenue.
Overall, while the working capital turnover ratio for CIENA Corp. has shown some fluctuations, it has remained relatively stable. Further analysis and comparison with industry benchmarks may provide additional insights into the company's efficiency in managing its working capital.
Peer comparison
Jan 27, 2024