CommVault Systems Inc (CVLT)

Working capital turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	839,247	784,590	769,591	723,472	670,885
Total current assets	US$ in thousands	595,126	550,914	484,081	607,600	513,686
Total current liabilities	US$ in thousands	484,928	410,076	394,064	373,202	328,554
Working capital turnover		7.62	5.57	8.55	3.09	3.62

March 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $839,247K ÷ ($595,126K – $484,928K)
= 7.62

CommVault Systems Inc's working capital turnover has fluctuated over the past five years. The company's working capital turnover was 7.62 times in 2024, which indicates that for each dollar of working capital, the company generated $7.62 in revenue. This represents an improvement from the previous year when the working capital turnover was 5.57 times.

In 2022, the working capital turnover was 8.55 times, showing the company's efficiency in utilizing its working capital to generate revenue. However, in 2021 and 2020, the working capital turnover was lower at 3.09 times and 3.62 times, respectively. This suggests that the company may have faced challenges in efficiently using its working capital during those years.

Overall, the increasing trend in the working capital turnover ratio in recent years indicates that CommVault Systems Inc has been able to improve its operational efficiency and generate more revenue relative to its working capital, which is a positive indicator for the company's financial health.