Dynavax Technologies Corporation (DVAX)

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	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	235,106	361,342	458,602	655,854	722,936	738,615	680,155	468,445	435,169	253,029	160,810	117,382	44,851	38,749	28,039	29,074	23,999	18,747	13,521	11,072
Total current assets	US$ in thousands	859,120	835,666	797,460	830,141	916,985	932,944	955,405	940,515	972,520	852,670	583,906	427,533	290,015	290,003	265,466	194,147	208,653	228,835	191,450	222,524
Total current liabilities	US$ in thousands	62,195	54,264	44,862	91,515	150,074	244,080	345,198	466,203	556,402	528,935	204,642	109,422	77,411	66,625	53,222	29,279	53,047	46,348	44,573	42,251
Working capital turnover		0.30	0.46	0.61	0.89	0.94	1.07	1.11	0.99	1.05	0.78	0.42	0.37	0.21	0.17	0.13	0.18	0.15	0.10	0.09	0.06

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $235,106K ÷ ($859,120K – $62,195K)
= 0.30

The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate sales revenue. A higher ratio indicates better utilization of working capital.

Looking at the data provided for Dynavax Technologies Corp., we observe a fluctuating trend in the working capital turnover ratio over the past eight quarters. The ratio has varied between 0.29 and 1.10 during this period.

In Q1 of 2022, the working capital turnover was at its highest at 1.10, indicating that the company generated $1.10 in revenue for every dollar of working capital invested. This suggests efficient management of working capital during that period.

However, the ratio experienced a decline in subsequent quarters, reaching its lowest point of 0.29 in Q4 of 2023. This significant drop could imply a decrease in sales revenue relative to the working capital invested, raising concerns about the company's operational efficiency.

Overall, the fluctuating trend in Dynavax Technologies Corp.'s working capital turnover ratio indicates varying efficiencies in managing working capital over the past eight quarters. Further analysis and monitoring of this ratio will be essential to assess the company's ability to effectively leverage its working capital for revenue generation in the future.