DoubleVerify Holdings Inc (DV)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	US$ in thousands	572,598	450,433	332,738
Total current assets	US$ in thousands	533,002	445,096	367,824
Total current liabilities	US$ in thousands	83,855	68,910	57,033
Working capital turnover		1.27	1.20	1.07

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $572,598K ÷ ($533,002K – $83,855K)
= 1.27

The working capital turnover of DoubleVerify Holdings Inc has been increasing over the past three years, from 1.07 in 2021 to 1.27 in 2023. This indicates that the company is becoming more efficient in managing its working capital to generate sales. A higher working capital turnover ratio suggests that the company is able to efficiently utilize its working capital to support its operations and sales growth. It is also a sign of effective inventory management and accounts receivable collection. Overall, the improving trend in the working capital turnover ratio reflects positively on the company's operational efficiency and financial health.