Innoviva Inc (INVA)
Working capital turnover
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Revenue | US$ in thousands | 358,711 | 310,463 | 331,339 | 391,866 | 336,794 |
Total current assets | US$ in thousands | 554,306 | 344,219 | 443,511 | 313,673 | 342,058 |
Total current liabilities | US$ in thousands | 236,083 | 38,134 | 38,775 | 5,807 | 6,110 |
Working capital turnover | 1.13 | 1.01 | 0.82 | 1.27 | 1.00 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $358,711K ÷ ($554,306K – $236,083K)
= 1.13
Innoviva Inc's working capital turnover has shown fluctuations over the past five years. The ratio increased from 1.00 in 2020 to 1.27 in 2021, indicating that the company was able to generate more revenue relative to its working capital investment. However, in 2022, the ratio decreased to 0.82, suggesting a decrease in efficiency in utilizing working capital to generate revenue.
Subsequently, there was a slight recovery in 2023 with a working capital turnover of 1.01, indicating a moderate improvement in efficiency. In 2024, the ratio increased to 1.13, signaling that the company was able to generate revenue more efficiently compared to the previous year.
Overall, while there have been fluctuations in Innoviva Inc's working capital turnover over the past five years, the company has shown some ability to adapt and improve its efficiency in utilizing working capital for revenue generation.
Peer comparison
Dec 31, 2024