Fulgent Genetics Inc (FLGT)
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 | 289,213 | 286,412 | 307,380 | 364,868 | 618,968 | 802,935 | 925,148 | 953,423 | 992,584 | 1,035,891 | 909,739 | 773,388 | 421,712 | 135,121 | 43,752 | 34,911 | 32,528 | 29,814 | 25,092 | 22,068 |
| Total current assets | US$ in thousands | 507,845 | 549,855 | 528,289 | 580,723 | 627,873 | 696,614 | 675,185 | 765,333 | 611,960 | 622,836 | 566,686 | 659,140 | 523,616 | 195,615 | 41,183 | 37,025 | 37,079 | 39,205 | 34,795 | 36,301 |
| Total current liabilities | US$ in thousands | 73,018 | 61,421 | 64,819 | 81,939 | 88,107 | 102,522 | 127,527 | 141,714 | 105,310 | 147,158 | 121,524 | 196,530 | 130,115 | 57,736 | 6,509 | 5,810 | 3,723 | 4,253 | 2,909 | 3,203 |
| Working capital turnover | 0.67 | 0.59 | 0.66 | 0.73 | 1.15 | 1.35 | 1.69 | 1.53 | 1.96 | 2.18 | 2.04 | 1.67 | 1.07 | 0.98 | 1.26 | 1.12 | 0.98 | 0.85 | 0.79 | 0.67 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $289,213K ÷ ($507,845K – $73,018K)
= 0.67
The working capital turnover of Fulgent Genetics Inc has shown a declining trend over the past year. The ratio has decreased from 1.15 in Q4 of 2022 to 0.67 in Q4 of 2023. This indicates that the company's efficiency in utilizing its working capital to generate revenue has decreased. A lower working capital turnover ratio suggests that the company is struggling to efficiently convert its current assets into sales. Further analysis is needed to understand the reasons behind this decreasing trend and to implement strategies for improvement.
Peer comparison
Dec 31, 2023