Innoviva Inc (INVA)

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	365,623	363,089	340,840	318,478	313,895	290,426	290,424	317,652	331,339	373,216	403,821	396,407	391,866	374,662	365,494	343,634	336,794	322,289	299,350	284,511
Total current assets	US$ in thousands	554,306	400,621	358,277	311,342	344,219	304,999	323,538	296,446	443,511	371,878	400,328	317,823	313,673	236,928	148,261	372,933	342,058	572,041	500,193	466,907
Total current liabilities	US$ in thousands	236,083	223,750	28,206	29,879	38,134	36,183	39,398	38,137	38,775	36,653	125,908	13,211	5,807	3,125	5,371	3,804	6,110	3,898	5,414	2,798
Working capital turnover		1.15	2.05	1.03	1.13	1.03	1.08	1.02	1.23	0.82	1.11	1.47	1.30	1.27	1.60	2.56	0.93	1.00	0.57	0.61	0.61

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $365,623K ÷ ($554,306K – $236,083K)
= 1.15

The working capital turnover of Innoviva Inc has shown fluctuations over the periods provided. Generally, a higher working capital turnover indicates that the company is efficiently managing its working capital to generate sales.

Based on the data provided, the working capital turnover for Innoviva Inc ranged from a low of 0.57 on September 30, 2020, to a peak of 2.56 on June 30, 2021. This significant increase in turnover indicates that the company might have effectively utilized its working capital to support its sales activities during that quarter.

Subsequently, the turnover ratio fluctuated between 0.82 on December 31, 2022, and 2.05 on September 30, 2024. This variability suggests that there may have been changes in the company's working capital efficiency and sales performance during these periods.

Overall, while the working capital turnover of Innoviva Inc has exhibited fluctuations, it is essential for the company to closely monitor and manage its working capital effectively to sustain healthy operations and maximize sales generation.