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.