Integra LifeSciences Holdings (IART)

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	1,486,381	1,488,778	1,493,656	1,509,844	1,505,291	1,519,581	1,519,648	1,510,233	1,535,982	1,529,270	1,504,267	1,371,086	1,317,264	1,323,744	1,339,441	1,466,719	1,476,695	1,464,883	1,451,126	1,428,751
Total current assets	US$ in thousands	1,058,040	1,027,230	1,051,260	1,029,480	1,161,500	1,196,450	1,137,410	1,066,050	1,153,720	1,103,780	1,032,380	1,039,080	1,237,200	1,152,100	966,222	1,008,670	858,168	883,813	868,672	822,686
Total current liabilities	US$ in thousands	306,980	355,712	377,496	282,293	320,906	304,452	295,596	315,833	340,021	332,858	318,756	412,301	401,013	255,146	212,415	246,485	331,309	302,641	315,111	288,106
Working capital turnover		1.98	2.22	2.22	2.02	1.79	1.70	1.81	2.01	1.89	1.98	2.11	2.19	1.58	1.48	1.78	1.92	2.80	2.52	2.62	2.67

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,486,381K ÷ ($1,058,040K – $306,980K)
= 1.98

Integra Lifesciences Holdings Corp's working capital turnover has exhibited fluctuations over the past eight quarters. The company's working capital turnover ratio ranged from a low of 1.75 in Q3 2022 to a high of 2.30 in Q3 2023. Overall, the working capital turnover ratio has shown an increasing trend from Q1 2022 to Q3 2023, indicating that the company has been more efficient in utilizing its working capital to generate revenue over time. However, the slight decrease in Q4 2023 compared to the previous quarter may suggest a potential decrease in efficiency in managing working capital. Further analysis is warranted to assess the reasons behind these fluctuations and their potential impact on the company's operational performance and financial health.