Corcept Therapeutics Incorporated (CORT)

Cash conversion cycle

		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
Cash conversion cycle	days	13.95	11.04	26.05	19.33	16.29	22.57	20.65	15.78	23.46	24.15	16.67	19.08	9.79	18.66	20.32	30.97	16.45	26.93	19.83	10.06

December 31, 2023 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 14.76 + 32.40 – 33.21
= 13.95

The cash conversion cycle of Corcept Therapeutics Inc has shown variability over the past eight quarters, ranging from -523.58 days to -39.26 days. The negative values indicate that the company is efficiently managing its working capital, with a shorter cycle indicating a quicker conversion of inventory into cash.

In Q3 2023, the cash conversion cycle deteriorated slightly to -523.58 days from -513.26 days in the previous quarter, potentially pointing to a delay in collecting receivables or managing payables efficiently. However, this metric improved significantly in Q2 2023 to -39.26 days, reflecting a more streamlined process for converting sales into cash.

The trend over the quarters suggests that Corcept Therapeutics Inc has generally been effective in managing its working capital and operating cycle, with a few fluctuations along the way. The company should continue monitoring its cash conversion cycle to ensure continued efficiency in its cash flow management.