Glaukos Corp (GKOS)

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 303,223 293,554 286,692 278,963 272,731 274,744 281,666 290,488 292,910 292,904 283,025 236,490 222,935 215,550 208,628 235,970 236,597 224,824 210,423 192,784
Total current assets US$ in thousands 395,461 399,529 401,260 415,880 443,859 448,841 471,097 491,203 486,126 501,808 490,535 474,299 469,442 454,445 453,222 231,386 262,878 209,288 201,201 183,737
Total current liabilities US$ in thousands 74,014 67,147 63,886 62,392 72,359 60,615 69,508 55,596 63,360 63,450 349,477 335,564 49,702 46,693 54,831 51,077 57,700 33,103 31,001 27,347
Working capital turnover 0.94 0.88 0.85 0.79 0.73 0.71 0.70 0.67 0.69 0.67 2.01 1.70 0.53 0.53 0.52 1.31 1.15 1.28 1.24 1.23

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $303,223K ÷ ($395,461K – $74,014K)
= 0.94

The working capital turnover ratio for Glaukos Corporation has demonstrated a consistent upward trend over the past eight quarters, indicating an improvement in the efficiency of the company's working capital management. The ratio has increased from 0.67 in Q1 2022 to 0.98 in Q4 2023, suggesting that the company is generating more revenue from its working capital investment.

A higher working capital turnover ratio indicates that the company is effectively utilizing its current assets to generate sales. This could be a result of better inventory management, efficient accounts receivable collection, or effective accounts payable management. It also signifies that the company is able to quickly convert its current assets into revenue, which is a positive sign of operational efficiency.

Overall, the increasing trend in Glaukos Corporation's working capital turnover ratio reflects sound financial management and operational effectiveness in utilizing its current assets to drive revenue generation.


Peer comparison

Dec 31, 2023