Doximity Inc (DOCS)

Working capital turnover

		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
Revenue (ttm)	US$ in thousands	475,422	468,331	448,309	436,882	419,052	401,739	384,353	361,518	343,548
Total current assets	US$ in thousands	912,941	840,899	862,820	989,656	975,453	898,519	847,917	874,143	904,137	858,378	829,608	790,597
Total current liabilities	US$ in thousands	147,250	104,762	123,181	132,694	139,507	105,884	118,143	120,753	111,282	91,713	95,624	100,182
Working capital turnover		0.62	0.64	0.61	0.51	0.50	0.51	0.53	0.48	0.43

March 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $475,422K ÷ ($912,941K – $147,250K)
= 0.62

The working capital turnover ratio for Doximity Inc has shown some fluctuation over the past few quarters. The ratio measures how efficiently the company utilizes its working capital to generate revenue. A higher ratio indicates that the company is efficient in using its working capital to support sales.

Looking at the data provided:
- The working capital turnover ratio ranged from 0.43 to 0.64 over the past several quarters.
- The ratio peaked at 0.64 in December 2023 and was at a low of 0.43 in March 2022.
- Overall, the trend shows some variability but generally hovers around the 0.50 mark, suggesting moderate efficiency in utilizing working capital to support revenue generation.

It is important for Doximity Inc to monitor and analyze this ratio consistently to ensure that working capital is being effectively managed to support the company's operations and growth.