N-Able Inc (NABL)

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
Revenue (ttm)	US$ in thousands	464,013	458,053	449,178	435,811	421,880	409,220	395,180	380,727	371,769	365,517	360,413	354,126	346,456	336,833	324,709	312,793	302,871
Total current assets	US$ in thousands	183,923	282,277	252,205	222,268	224,791	203,949	183,637	162,617	154,156	143,592	143,426	126,618	120,989	113,782	90,794	150,604	135,722
Total current liabilities	US$ in thousands	150,098	93,778	84,969	73,759	81,717	79,626	73,623	63,851	61,814	59,421	58,481	56,063	60,878	57,962	57,701	61,378	54,827
Working capital turnover		13.72	2.43	2.69	2.93	2.95	3.29	3.59	3.85	4.03	4.34	4.24	5.02	5.76	6.03	9.81	3.51	3.74

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $464,013K ÷ ($183,923K – $150,098K)
= 13.72

The working capital turnover ratio for N-Able Inc has shown fluctuating trends over the given periods, indicating variations in how efficiently the company is managing its working capital to generate sales. The ratio has ranged from a low of 2.43 at September 30, 2024, to a high of 13.72 at December 31, 2024.

A working capital turnover ratio greater than 1 implies that the company is effectively utilizing its working capital to generate sales revenue. However, a too high ratio, as seen at December 31, 2024, may indicate an overly efficient use of working capital, potentially leading to risk or instability.

This analysis suggests that N-Able Inc has experienced significant changes in its working capital turnover efficiency over the analyzed periods. The company may need to closely monitor and optimize its working capital management strategies to ensure sustainable and balanced growth.