Integer Holdings Corp (ITGR)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,533,846 | 1,492,296 | 1,435,589 | 1,388,858 | 1,330,022 | 1,281,365 | 1,247,921 | 1,209,740 | 1,187,800 | 1,149,039 | 1,089,308 | 1,025,616 | 1,073,442 | 1,130,120 | 1,184,617 | 1,246,095 | 1,218,156 | 1,195,553 | 1,146,376 | 1,143,613 |
| Total current assets | US$ in thousands | 617,668 | 609,344 | 615,928 | 628,989 | 558,298 | 556,617 | 533,013 | 494,790 | 452,982 | 442,567 | 434,243 | 409,237 | 412,937 | 498,653 | 579,502 | 460,822 | 415,395 | 453,071 | 445,786 | 437,190 |
| Total current liabilities | US$ in thousands | 220,969 | 203,101 | 199,832 | 225,475 | 223,752 | 198,762 | 197,726 | 173,082 | 159,629 | 156,410 | 164,127 | 161,551 | 156,191 | 153,460 | 153,648 | 186,129 | 179,078 | 188,938 | 183,942 | 171,503 |
| Working capital turnover | 3.87 | 3.67 | 3.45 | 3.44 | 3.98 | 3.58 | 3.72 | 3.76 | 4.05 | 4.02 | 4.03 | 4.14 | 4.18 | 3.27 | 2.78 | 4.54 | 5.15 | 4.53 | 4.38 | 4.30 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,533,846K ÷ ($617,668K – $220,969K)
= 3.87
Integer Holdings Corp's working capital turnover has exhibited variability over the recent quarters. The working capital turnover ratio measures how efficiently the company utilizes its working capital to generate revenue. A higher ratio indicates better efficiency in utilizing working capital.
In Q4 2023, the working capital turnover was 4.02, a slight decrease from the previous quarter's 3.83. Despite the decrease, the ratio remains relatively high, suggesting that Integer Holdings Corp efficiently converted its working capital into revenue during the period.
Comparing Q4 2023 to the same period in the previous year, there is a noticeable decline from 4.11 to 4.02. This decrease indicates a slight drop in efficiency in utilizing working capital to generate revenue compared to the previous year.
Overall, Integer Holdings Corp's working capital turnover has shown fluctuations but generally remains at healthy levels, indicating that the company effectively manages its working capital to support its operations and generate revenue. It is essential for the company to monitor this ratio to ensure efficient use of working capital for sustainable growth.
Peer comparison
Dec 31, 2023