Corcept Therapeutics Incorporated (CORT)
Cash conversion cycle
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 416.32 | 299.73 | 355.17 | 343.91 | 435.27 | 450.66 | 436.75 | 1,095.13 | 1,154.38 | 419.62 | 1,223.58 | 352.24 | 1,240.63 | 351.83 | 332.72 | 363.24 | 1,383.43 | 305.03 | 299.78 | 959.57 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | days | 416.32 | 299.73 | 355.17 | 343.91 | 435.27 | 450.66 | 436.75 | 1,095.13 | 1,154.38 | 419.62 | 1,223.58 | 352.24 | 1,240.63 | 351.83 | 332.72 | 363.24 | 1,383.43 | 305.03 | 299.78 | 959.57 |
December 31, 2024 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 416.32 + — – —
= 416.32
The cash conversion cycle of Corcept Therapeutics Incorporated has shown significant fluctuations over the years, indicating varying efficiency in managing its operating cycle. The cycle peaked at 1,383.43 days on December 31, 2020, reflecting a prolonged period between paying suppliers for inventory and receiving cash from the sale of products. This delay may have strained the company's liquidity and working capital position.
Subsequently, there was a significant improvement in the cash conversion cycle, with a sharp decrease to 299.78 days by June 30, 2020. This reduction suggests the company effectively managed its receivables, payables, and inventory turnover, leading to a faster cash conversion cycle. However, the cycle gradually increased thereafter, reaching 1,223.58 days on June 30, 2022, before dropping again to 299.73 days by September 30, 2024.
The current trend indicates a cyclic behavior in the cash conversion cycle, with periods of high and low efficiency in converting cash. It is essential for Corcept Therapeutics to focus on optimizing its working capital management to maintain a sustainable and healthy cash conversion cycle, ensuring smooth operations and adequate liquidity for future growth and investment opportunities.
Peer comparison
Dec 31, 2024