3D Systems Corporation (DDD)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	512,487	530,813	965,674	548,190	622,454
Total current assets	US$ in thousands	627,822	834,245	1,031,740	357,515	373,170
Total current liabilities	US$ in thousands	147,188	151,808	178,012	175,730	162,964
Working capital turnover		1.07	0.78	1.13	3.02	2.96

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $512,487K ÷ ($627,822K – $147,188K)
= 1.07

The working capital turnover ratio for 3D Systems Corporation has fluctuated over the past five years. In 2023, the ratio stands at 1.07, indicating that the company generated $1.07 in revenue for every $1 of working capital invested. This represents an improvement from 2022 when the ratio was 0.78, suggesting that the company is utilizing its working capital more effectively to generate sales. In 2021, the ratio was 1.13, showing a slight increase compared to the previous year.

The significant drop in the working capital turnover ratio to 3.02 in 2020 may indicate a change in the company's operating efficiency or management of its working capital. However, the ratio rebounded to 2.96 in 2019, indicating that the company was able to efficiently utilize its working capital to generate revenue.

Overall, the working capital turnover ratio for 3D Systems Corporation has shown variability over the years, with 2020 standing out as a year of significant improvement followed by a slight decrease in 2021 and another increase in 2023. This suggests that the company's management of its working capital has been dynamic in responding to changing business conditions and operational needs.