ICU Medical Inc (ICUI)

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 2,381,346 2,339,530 2,303,710 2,256,565 2,259,259 2,249,284 2,293,830 2,305,524 2,279,997 2,042,508 1,780,711 1,541,384 1,316,308 1,296,234 1,278,741 1,260,443 1,271,004 1,266,076 1,254,980 1,263,883
Total current assets US$ in thousands 1,441,980 1,258,060 1,235,990 1,187,730 1,219,600 1,219,410 1,244,740 1,213,020 1,235,200 1,199,360 1,189,840 1,174,000 1,029,810 1,011,240 973,354 928,182 920,777 900,139 1,036,700 1,002,180
Total current liabilities US$ in thousands 556,182 549,557 511,907 455,360 481,838 464,043 483,880 462,177 494,559 489,034 485,985 494,115 200,777 185,077 183,664 179,862 195,488 185,359 359,151 357,301
Working capital turnover 2.69 3.30 3.18 3.08 3.06 2.98 3.01 3.07 3.08 2.88 2.53 2.27 1.59 1.57 1.62 1.68 1.75 1.77 1.85 1.96

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,381,346K ÷ ($1,441,980K – $556,182K)
= 2.69

The working capital turnover of ICU Medical Inc has shown a fluctuating trend over the period from March 31, 2020, to December 31, 2024. The ratio started at 1.96 on March 31, 2020, and gradually declined to 1.57 by September 30, 2021. Subsequently, there was a significant increase in the efficiency of working capital utilization, reaching a peak of 3.30 on September 30, 2024.

Overall, the trend indicates an improvement in the management of working capital, as the company was able to generate more revenue from its working capital over time. This suggests that ICU Medical Inc has become more effective in utilizing its current assets and liabilities to support its operational activities and generate sales. Investors and stakeholders may view this positively as it indicates enhanced operational efficiency and potential for increased profitability.