DoubleVerify Holdings Inc (DV)

Working capital turnover

		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	Mar 31, 2021
Revenue (ttm)	US$ in thousands	571,983	533,023	501,366	476,373	450,505	423,463	394,017	361,473	332,256
Total current assets	US$ in thousands	533,002	469,358	492,159	476,695	445,096	405,346	386,514	370,609	367,824	424,660	430,016	148,681
Total current liabilities	US$ in thousands	83,855	74,750	66,248	76,010	68,910	57,863	47,984	44,688	57,033	37,615	36,091	30,680
Working capital turnover		1.27	1.35	1.18	1.19	1.20	1.22	1.16	1.11	1.07

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $571,983K ÷ ($533,002K – $83,855K)
= 1.27

DoubleVerify Holdings Inc's working capital turnover has shown some variability over the past eight quarters. It ranged from a low of 1.11 in Q1 2022 to a high of 1.35 in Q3 2023. This ratio measures how efficiently the company is using its working capital to generate revenue, with higher values indicating better efficiency.

The trend over the last two years has been somewhat stable, with minor fluctuations in the ratio. However, the recent decrease in Q4 2023 from Q3 2023 could imply a slightly lower efficiency in utilizing working capital to support revenue generation.

Overall, it is important for DoubleVerify Holdings Inc to monitor and manage its working capital effectively to ensure optimal utilization and support sustainable growth.