Exelixis Inc (EXEL)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	2,168,701	2,081,598	2,013,976	1,846,646	1,830,208	1,774,473	1,714,291	1,663,870	1,611,062	1,638,285	1,554,970	1,520,720	1,434,970	1,253,882	1,156,551	1,030,853	987,538	957,796	998,407	979,203
Total current assets	US$ in thousands	1,467,580	1,549,720	1,477,440	1,292,430	1,317,960	1,443,370	1,590,530	1,637,620	1,618,760	1,841,620	1,851,640	1,842,740	1,834,750	1,662,030	1,593,250	1,434,260	1,445,400	1,407,810	1,394,660	1,136,900
Total current liabilities	US$ in thousands	403,769	394,346	345,703	373,010	394,277	376,816	339,617	327,597	324,359	301,733	304,521	289,079	337,590	269,508	255,326	213,337	204,658	201,343	142,681	140,477
Working capital turnover		2.04	1.80	1.78	2.01	1.98	1.66	1.37	1.27	1.24	1.06	1.01	0.98	0.96	0.90	0.86	0.84	0.80	0.79	0.80	0.98

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,168,701K ÷ ($1,467,580K – $403,769K)
= 2.04

Exelixis Inc's working capital turnover has shown an increasing trend from 0.98 as of March 31, 2020, to 2.04 as of December 31, 2024. This indicates that the company is becoming more efficient in utilizing its working capital to generate sales over this period. A higher working capital turnover ratio is generally seen as a positive sign, as it suggests that the company is able to generate more revenue with a lower investment in working capital. Exelixis Inc's improving working capital turnover may be attributed to better management of its current assets and liabilities, leading to a more streamlined operating cycle. It implies that the company is effectively managing its working capital resources to support its operations and drive growth.