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.