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.