Glaukos Corp (GKOS)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	301,165	266,924	278,319	211,679	233,795
Total current assets	US$ in thousands	395,461	443,859	486,126	469,442	262,878
Total current liabilities	US$ in thousands	74,014	72,359	63,360	49,702	57,700
Working capital turnover		0.94	0.72	0.66	0.50	1.14

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $301,165K ÷ ($395,461K – $74,014K)
= 0.94

The working capital turnover ratio for Glaukos Corporation has fluctuated over the past five years, indicating varying efficiency in managing its working capital. In 2023, the ratio improved to 0.98, showing that the company generated $0.98 of revenue for every dollar of working capital invested. This suggests an increase in efficiency compared to the previous year when the ratio was 0.76.

Although the ratio has shown improvement in 2023, it is still lower than the levels seen in 2019 and 2020 when it was 1.16 and 0.54, respectively. This may indicate that the company is better utilizing its working capital in 2023 compared to 2020 but not as efficiently as in 2019.

Overall, the trend in the working capital turnover ratio for Glaukos Corporation suggests some fluctuations in the company's ability to generate revenue from its working capital investments. Further analysis of the company's working capital management practices and operational efficiency may provide insights into these fluctuations and help determine the effectiveness of its working capital utilization strategies.