Corcept Therapeutics Incorporated (CORT)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 24.74 24.69 25.32 26.43 25.94 24.49 26.37 26.71 25.59 24.22 25.03 22.69 22.59 23.36 22.42 21.57 19.52 18.39 18.93 18.50
Receivables turnover 11.26 12.53 12.91 12.30 12.23 13.12 13.13 13.49 12.61 12.64 11.82 14.23 12.87 15.11 14.68 11.93 15.38 12.74 13.57 13.45
Payables turnover 10.99 11.10 21.95 15.10 13.21 18.11 17.39 14.64 18.48 18.44 12.68 16.11 10.51 17.28 17.53 22.03 14.05 16.92 13.86 9.92
Working capital turnover 1.36 1.45 1.26 0.91 0.94 1.00 1.06 1.15 1.67 0.99 0.94 0.92 0.82 0.85 0.89 1.08 1.14 1.22 1.33 1.41

Activity ratios provide insights into how efficiently a company is managing its resources and operating its business.

1. Inventory turnover: Corcept Therapeutics Inc's inventory turnover has been relatively stable around 0.8-0.9 over the past eight quarters. This indicates that the company is selling and replacing its inventory less than once a year. It may imply that the company is either maintaining high inventory levels or facing challenges in selling its products efficiently.

2. Receivables turnover: The receivables turnover ratio for Corcept has ranged from 11.73 to 13.99 over the last eight quarters. A higher turnover ratio indicates that the company is collecting its accounts receivable more quickly. This trend suggests that Corcept has been effectively managing its receivables and converting sales into cash efficiently.

3. Payables turnover: Corcept's payables turnover ratio has fluctuated between 0.36 and 0.72 over the past two years, indicating inconsistencies in how quickly the company is paying its suppliers. A lower turnover ratio may suggest that the company is taking longer to pay its suppliers, which could impact relationships and potentially lead to credit issues.

4. Working capital turnover: The working capital turnover ratio for Corcept has shown variability, ranging from 0.91 to 1.45 over the past eight quarters. A higher turnover ratio suggests that the company is efficiently using its working capital to generate sales. The fluctuations in this ratio may indicate changes in the company's working capital management efficiency over time.

Overall, while Corcept Therapeutics Inc has shown some efficiency in managing its receivables, there are potential areas for improvement, such as inventory management and consistency in paying suppliers, to enhance operational efficiency and financial performance.

Average number of days

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
Days of inventory on hand (DOH) days 14.76 14.78 14.41 13.81 14.07 14.90 13.84 13.67 14.26 15.07 14.58 16.09 16.16 15.63 16.28 16.92 18.70 19.85 19.28 19.73
Days of sales outstanding (DSO) days 32.40 29.14 28.26 29.69 29.84 27.83 27.81 27.05 28.95 28.87 30.87 25.65 28.36 24.15 24.86 30.61 23.73 28.65 26.89 27.14
Number of days of payables days 33.21 32.88 16.63 24.17 27.63 20.16 20.99 24.94 19.75 19.79 28.78 22.66 34.73 21.12 20.83 16.56 25.99 21.58 26.34 36.81

Days of inventory on hand (DOH) for Corcept Therapeutics Inc has been fluctuating over the past eight quarters, ranging from a low of 352.24 days in Q1 2022 to a high of 450.66 days in Q3 2023. This indicates that the company is taking longer to sell its inventory on average, which may lead to higher carrying costs and potential obsolescence risks.

Days of sales outstanding (DSO) have remained relatively stable for Corcept Therapeutics Inc, with a slight increase from 26.09 days in Q1 2022 to 31.12 days in Q4 2023. This suggests that the company is collecting its accounts receivable in a reasonable timeframe, although there has been a slight uptick in the collection period.

The number of days of payables for Corcept Therapeutics Inc has shown significant variability, with a peak of 1,002.33 days in Q3 2023 and a low of 503.76 days in Q2 2023. The company's payment period to its suppliers has been significantly longer than the industry average, which may indicate favorable credit terms with suppliers but could also signal potential liquidity issues if not managed appropriately.

Overall, the company's activity ratios reveal different aspects of its operational efficiency and cash flow management. Corcept Therapeutics Inc should closely monitor these ratios to optimize its working capital management and improve overall financial performance.

Long-term

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
Fixed asset turnover 2,473.72 1,490.15 1,036.69 897.67 634.85 496.41 454.79 523.73 365.25 287.84 242.64 229.62 211.27 271.57 567.39 380.57 291.89 232.62 228.01 279.37
Total asset turnover 0.78 0.76 0.82 0.67 0.69 0.75 0.79 0.81 0.86 0.60 0.60 0.62 0.62 0.67 0.71 0.75 0.74 0.78 0.82 0.81

Long-term activity ratios provide insight into how effectively a company is utilizing its assets to generate revenue over an extended period. In the case of Corcept Therapeutics Inc, the fixed asset turnover ratio has shown a consistent upward trend over the past eight quarters, reaching a significant peak of 2,473.72 in Q4 2023. This indicates that the company is generating significant revenue relative to its fixed assets, reflecting efficient utilization of these assets to generate sales.

On the other hand, the total asset turnover ratio has fluctuated over the same period, with values ranging between 0.67 and 0.82. While it appears to be more volatile compared to the fixed asset turnover ratio, the trend does not show a clear pattern of improvement or decline. This suggests that Corcept Therapeutics Inc may not be as efficient in generating revenue from all its assets collectively as it is from its fixed assets specifically.

Overall, the significant increase in the fixed asset turnover ratio indicates that Corcept Therapeutics Inc has been successful in leveraging its fixed assets to drive revenue growth. However, the fluctuations in the total asset turnover ratio suggest that there may be opportunities for the company to further optimize the utilization of its total assets to enhance overall revenue generation.