Corcept Therapeutics Incorporated (CORT)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	482,375	401,858	365,978	353,874	306,486
Total current assets	US$ in thousands	458,636	499,253	266,463	478,501	307,358
Total current liabilities	US$ in thousands	104,505	72,491	47,541	47,494	38,841
Working capital turnover		1.36	0.94	1.67	0.82	1.14

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $482,375K ÷ ($458,636K – $104,505K)
= 1.36

The working capital turnover of Corcept Therapeutics Inc has fluctuated over the past five years. In 2023, the company achieved a working capital turnover of 1.36, indicating that it generated $1.36 in revenue for every dollar of working capital invested. This represents an improvement compared to 2022 when the ratio was 0.94. The peak performance in terms of working capital turnover was seen in 2021 at 1.67, showcasing the company's ability to efficiently utilize its working capital during that period. However, there was a notable decline in 2020 with a working capital turnover of 0.82, reflecting potential inefficiencies in managing working capital. In 2019, the company achieved a ratio of 1.14, indicating a moderate level of efficiency in utilizing its working capital. It is important for Corcept Therapeutics Inc to consistently monitor and optimize its working capital turnover to ensure effective utilization of resources for generating revenue.