Corcept Therapeutics Incorporated (CORT)

Working capital turnover

		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
Revenue (ttm)	US$ in thousands	482,375	450,026	428,153	413,824	401,858	397,624	392,027	380,229	365,978	352,891	343,087	340,064	353,874	356,034	351,212	334,904	306,486	285,422	268,362	258,417
Total current assets	US$ in thousands	458,636	431,527	432,588	533,893	499,253	452,402	419,045	388,220	266,463	401,900	411,270	409,624	478,501	463,493	438,333	344,776	307,358	267,310	232,655	216,864
Total current liabilities	US$ in thousands	104,505	121,873	93,059	78,865	72,491	53,068	49,057	57,244	47,541	44,757	45,402	40,601	47,494	43,048	42,243	34,075	38,841	32,396	30,381	34,218
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

December 31, 2023 calculation

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

The working capital turnover of Corcept Therapeutics Inc has shown some variability over the past eight quarters. The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales revenue.

From Q1 2022 to Q2 2023, the working capital turnover ratio fluctuated between 0.91 and 1.45. Notably, the ratio peaked in Q3 2023 at 1.45 and was at its lowest in Q1 2023 at 0.91. A higher working capital turnover ratio signifies that the company is able to generate more revenue with its current level of working capital.

Overall, despite some fluctuations, the working capital turnover ratio of Corcept Therapeutics Inc has generally been above 1, indicating that the company has been effectively utilizing its working capital to support its sales activities. However, it would be beneficial to further investigate the reasons behind the variations in the ratio to ensure sustained efficiency in working capital management.