Integer Holdings Corp (ITGR)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,533,820 | 1,330,020 | 1,187,800 | 1,040,450 | 1,207,820 |
| Total current assets | US$ in thousands | 617,668 | 558,298 | 452,982 | 412,937 | 415,395 |
| Total current liabilities | US$ in thousands | 220,969 | 223,752 | 159,629 | 156,191 | 179,078 |
| Working capital turnover | 3.87 | 3.98 | 4.05 | 4.05 | 5.11 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,533,820K ÷ ($617,668K – $220,969K)
= 3.87
The working capital turnover of Integer Holdings Corp has shown a declining trend over the past five years, from 5.32 in 2019 to 4.02 in 2023. This indicates that the company is generating less revenue relative to its working capital investment, suggesting potential inefficiencies in its working capital management. A lower working capital turnover ratio may point to inventory management issues, slow collection of receivables, or excess investment in current assets, all of which can negatively impact the company's profitability and cash flow. Integer Holdings Corp should focus on improving its working capital turnover to optimize its financial performance and operational efficiency.
Peer comparison
Dec 31, 2023