Fair Isaac Corporation (FICO)

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	1,451,275	1,415,832	1,382,391	1,338,493	1,322,108	1,310,169	1,304,205	1,394,931	1,376,365	1,376,295	1,426,790	1,319,550	1,306,103	1,294,562	1,225,550	1,226,068	1,196,331	1,160,083	1,111,271	1,052,015
Total current assets	US$ in thousands	565,263	556,448	575,011	521,326	483,822	484,715	473,257	482,209	461,996	550,974	556,880	551,818	508,441	534,078	483,011	483,671	460,994	455,706	435,064	397,000
Total current liabilities	US$ in thousands	433,109	367,688	392,946	373,278	354,988	331,459	383,855	382,762	321,797	559,207	544,769	500,561	391,042	414,511	460,187	479,824	442,032	490,828	457,713	436,620
Working capital turnover		10.98	7.50	7.59	9.04	10.26	8.55	14.59	14.03	9.82	—	117.81	25.74	11.13	10.83	53.70	318.71	63.09	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,451,275K ÷ ($565,263K – $433,109K)
= 10.98

Fair, Isaac Corp.'s working capital turnover has shown fluctuations over the past eight quarters. The working capital turnover measures how efficiently a company is using its working capital to generate sales revenue.

Looking at the data, we see that the working capital turnover ranged from a low of 8.02 in September 2023 to a high of 15.25 in June 2022. The average value over this period was 10.38.

A higher working capital turnover generally indicates that the company is efficiently using its working capital to support sales. In line with this, the company's working capital turnover has generally been quite healthy across the periods in question, although with some variation.

Overall, the trend of Fair, Isaac Corp.'s working capital turnover suggests that the company has been effectively utilizing its working capital to generate sales, albeit with some fluctuation. It would be important to assess the company's working capital management strategies to understand the drivers behind these fluctuations.