Corcept Therapeutics Incorporated (CORT)

Working capital turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	675,040	482,375	401,858	365,978	353,874
Total current assets	US$ in thousands	471,602	458,636	498,707	381,387	524,247
Total current liabilities	US$ in thousands	140,773	104,505	81,588	6,908	10,554
Working capital turnover		2.04	1.36	0.96	0.98	0.69

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $675,040K ÷ ($471,602K – $140,773K)
= 2.04

Working capital turnover measures how efficiently a company utilizes its working capital to generate sales revenue. A higher turnover indicates better management of working capital.

At the end of December 31, 2020, the working capital turnover for Corcept Therapeutics Incorporated was 0.69. This implies that the company generated $0.69 in sales for every $1 of working capital invested.

Over the following years, there was an improvement in the working capital turnover:
- By December 31, 2021, the turnover ratio increased to 0.98, indicating a more efficient use of working capital.
- Further improvement was seen by December 31, 2022, with the turnover reaching 0.96.
- By December 31, 2023, the company significantly improved its efficiency, achieving a working capital turnover of 1.36.
- The most notable improvement was observed by December 31, 2024, with the turnover ratio significantly increasing to 2.04, indicating that Corcept Therapeutics efficiently generated $2.04 in sales for every $1 of working capital invested.

The increasing trend in the working capital turnover over the years suggests that Corcept Therapeutics Incorporated has been effectively managing its resources to drive sales growth and enhance overall operational efficiency.