Harmonic Inc (HLIT)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 678,722 | 623,648 | 555,095 | 572,318 | 607,907 | 605,149 | 633,684 | 635,167 | 624,957 | 616,427 | 587,010 | 543,012 | 507,149 | 482,873 | 451,444 | 411,990 | 378,831 | 369,481 | 390,314 | 401,185 |
| Total current assets | US$ in thousands | 366,076 | 336,368 | 284,551 | 300,809 | 328,853 | 329,137 | 331,516 | 338,105 | 347,692 | 336,683 | 338,426 | 325,400 | 323,127 | 291,175 | 301,121 | 260,667 | 238,035 | 214,043 | 207,877 | 231,625 |
| Total current liabilities | US$ in thousands | 167,569 | 161,662 | 151,901 | 274,818 | 272,394 | 275,219 | 287,689 | 305,898 | 322,072 | 221,942 | 221,984 | 230,856 | 224,461 | 203,739 | 186,371 | 192,565 | 147,295 | 145,770 | 145,401 | 196,728 |
| Working capital turnover | 3.42 | 3.57 | 4.18 | 22.02 | 10.77 | 11.22 | 14.46 | 19.72 | 24.39 | 5.37 | 5.04 | 5.74 | 5.14 | 5.52 | 3.93 | 6.05 | 4.17 | 5.41 | 6.25 | 11.50 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $678,722K ÷ ($366,076K – $167,569K)
= 3.42
Harmonic Inc's working capital turnover has shown fluctuations over the years, indicating changes in the efficiency of utilizing its working capital. The ratio peaked at a high of 24.39 in December 31, 2022, suggesting that the company was able to generate significant revenue relative to its working capital during that period. However, the ratio dropped to 3.42 by December 31, 2024, indicating a potential decrease in revenue generated per unit of working capital employed.
Overall, the working capital turnover ratio for Harmonic Inc has seen both highs and lows, reflecting variations in the company's ability to efficiently manage its working capital to generate sales. It is important for the company to closely monitor and improve this ratio to ensure optimal utilization of its working capital resources.
Peer comparison
Dec 31, 2024