MaxLinear Inc (MXL)

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	360,528	393,714	448,142	540,090	693,263	858,496	1,008,696	1,104,767	1,120,252	1,077,555	1,021,599	946,966	892,398	839,225	766,084	625,928	478,596	353,898	277,285	294,572
Total current assets	US$ in thousands	323,442	328,260	397,581	444,679	488,025	508,607	554,491	593,586	563,124	562,975	538,624	454,576	404,104	418,280	378,108	344,980	361,718	350,053	190,578	180,609
Total current liabilities	US$ in thousands	182,284	168,597	190,277	223,854	222,129	232,910	241,729	300,162	341,086	351,318	316,081	234,795	207,395	231,274	211,789	197,637	233,661	211,374	69,964	62,428
Working capital turnover		2.55	2.47	2.16	2.45	2.61	3.11	3.23	3.77	5.05	5.09	4.59	4.31	4.54	4.49	4.61	4.25	3.74	2.55	2.30	2.49

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $360,528K ÷ ($323,442K – $182,284K)
= 2.55

MaxLinear Inc's working capital turnover has exhibited fluctuations over the years based on the provided data. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.

From March 31, 2020, to June 30, 2022, there is a clear increasing trend in the working capital turnover ratio, demonstrating that MaxLinear Inc became more efficient in utilizing its working capital during this period. The peak value of 5.09 at September 30, 2022, suggests that the company was generating $5.09 in sales revenue for every dollar of working capital invested.

However, there is a slight decline in the ratio from September 30, 2022, to March 31, 2024. The ratio decreased to 2.45 at March 31, 2024, implying a decrease in efficiency in utilizing working capital during this period.

Overall, the trend in the working capital turnover ratio for MaxLinear Inc indicates periods of both efficiency and inefficiency in converting working capital into sales revenue. Further analysis would be necessary to understand the factors contributing to these fluctuations and to assess the company's working capital management strategies.