LeMaitre Vascular Inc (LMAT)

Working capital turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 219,863 193,484 161,651 154,424 129,366
Total current assets US$ in thousands 402,192 194,598 161,733 139,883 94,263
Total current liabilities US$ in thousands 30,607 29,879 25,329 21,813 25,145
Working capital turnover 0.59 1.17 1.19 1.31 1.87

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $219,863K ÷ ($402,192K – $30,607K)
= 0.59

The working capital turnover for LeMaitre Vascular Inc has shown a declining trend over the past five years. Starting at 1.87 in December 31, 2020, the ratio decreased to 1.31 by December 31, 2021, and then continued to decline steadily to 1.19 by December 31, 2022, 1.17 by December 31, 2023, and finally, reaching 0.59 by December 31, 2024. This indicates that the company's efficiency in utilizing its working capital to generate sales has been deteriorating. A lower working capital turnover ratio may suggest inefficiencies in managing inventory levels, collecting receivables, or utilizing payables effectively. Further analysis of the company's working capital components and operational processes may be necessary to address the declining trend in working capital turnover.