Myriad Genetics Inc (MYGN)

Working capital turnover

		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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Revenue (ttm)	US$ in thousands	817,300	794,900	766,400	745,400	731,500	696,200	691,900	675,200	820,600	831,200	839,900	846,300	666,200	590,100	564,400	586,600	627,900	750,000	801,700	822,500
Total current assets	US$ in thousands	293,200	291,600	290,300	313,600	265,400	294,300	261,600	274,600	352,300	367,100	427,400	484,800	498,900	538,900	329,200	394,500	331,700	355,200	365,300	329,500
Total current liabilities	US$ in thousands	154,300	148,900	146,100	155,900	209,300	221,100	143,300	137,200	129,100	119,700	166,000	204,300	203,200	271,000	149,000	133,700	147,000	113,200	112,400	115,400
Working capital turnover		5.88	5.57	5.31	4.73	13.04	9.51	5.85	4.91	3.68	3.36	3.21	3.02	2.25	2.20	3.13	2.25	3.40	3.10	3.17	3.84

September 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $817,300K ÷ ($293,200K – $154,300K)
= 5.88

The working capital turnover of Myriad Genetics Inc has shown fluctuations over the past few quarters. The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate revenue. A higher ratio typically indicates more efficient use of working capital.

In the most recent quarter, ending September 30, 2024, the working capital turnover ratio was 5.88, showing an improvement from the previous quarter. This suggests that the company was able to generate revenue nearly 6 times using its working capital during this period.

Looking back at historical data, there was a significant spike in the working capital turnover ratio in the quarter ending September 30, 2023, where it reached 13.04, indicating exceptionally efficient use of working capital during that period. However, this was followed by a decline in the ratio in subsequent quarters.

Overall, the trend in the working capital turnover ratio for Myriad Genetics Inc demonstrates variability but generally indicates the company's ability to efficiently utilize its resources to generate revenue. It is important for investors and stakeholders to monitor this ratio over time to assess the company's financial efficiency and performance.