Danaher Corporation (DHR)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 23,693,000 | 31,383,000 | 29,239,000 | 21,983,000 | 17,796,000 |
| Total current assets | US$ in thousands | 13,937,000 | 15,883,000 | 11,648,000 | 13,802,000 | 25,596,000 |
| Total current liabilities | US$ in thousands | 8,274,000 | 8,389,000 | 8,140,000 | 7,402,000 | 4,932,000 |
| Working capital turnover | 4.18 | 4.19 | 8.33 | 3.43 | 0.86 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $23,693,000K ÷ ($13,937,000K – $8,274,000K)
= 4.18
Danaher Corp.'s working capital turnover has fluctuated over the past five years. In 2023, the working capital turnover was 4.22, showing a slight increase from the previous year. This indicates that the company generated $4.22 in revenue for every dollar of working capital invested. In 2021, the working capital turnover was notably higher at 8.40, suggesting more efficient utilization of working capital to generate revenue. However, in 2020 and 2019, the working capital turnover was lower at 3.48 and 0.87 respectively, indicating a less effective utilization of working capital during those years. Overall, the trend in working capital turnover suggests that Danaher Corp. has been able to generate sales efficiently in recent years, with some fluctuations in performance.
Peer comparison
Dec 31, 2023