Haemonetics Corporation (HAE)

Working capital turnover

		Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	2,596,175	2,424,725	2,393,776	2,373,078	2,323,237	1,114,154	1,068,622	1,011,034	987,485	954,649	935,251	904,840	862,112	882,733	901,332	944,412	989,857	1,000,660	989,046	978,061
Total current assets	US$ in thousands	768,903	764,982	865,744	801,607	769,722	706,309	715,789	687,783	756,031	729,455	699,246	684,368	693,546	668,348	760,279	759,410	603,639	582,575	567,789	615,278
Total current liabilities	US$ in thousands	300,383	261,755	264,215	236,939	251,816	226,889	262,175	180,487	442,266	355,411	288,470	228,339	253,495	194,384	338,568	407,827	274,822	256,692	240,066	293,665
Working capital turnover		5.54	4.82	3.98	4.20	4.49	2.32	2.36	1.99	3.15	2.55	2.28	1.98	1.96	1.86	2.14	2.69	3.01	3.07	3.02	3.04

March 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,596,175K ÷ ($768,903K – $300,383K)
= 5.54

Haemonetics Corporation's working capital turnover has shown fluctuating trends over the past several quarters. The ratio measures the efficiency of the company in utilizing its working capital to generate revenue. A higher working capital turnover indicates that the company is able to generate more revenue per dollar of working capital.

In the most recent quarter of March 31, 2024, the working capital turnover was 5.54, which represents an improvement compared to the previous quarter of December 31, 2023, where it was 4.82. This suggests that the company was able to generate more revenue relative to its working capital in the latest quarter.

However, it is important to note that the working capital turnover has shown variability in recent quarters, with some quarters exhibiting higher ratios such as March 31, 2020 (3.01) and December 31, 2019 (3.07), while others demonstrating lower ratios like September 30, 2022 (2.36) and June 30, 2021 (1.98).

Overall, the trend in working capital turnover for Haemonetics Corporation indicates varying levels of efficiency in utilizing working capital to generate revenue. Further analysis and comparison with industry benchmarks may provide additional insights into the company's operational efficiency and financial performance.