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.