Neurocrine Biosciences Inc (NBIX)

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	1,882,900	1,779,300	1,668,300	1,522,900	1,411,600	1,306,100	1,208,800	1,185,500	1,107,700	1,050,200	1,010,800	1,022,200	1,020,900	1,017,010	981,066	862,604	764,254	651,736	581,765	503,032
Total current assets	US$ in thousands	1,607,000	1,649,900	1,496,600	1,432,800	1,453,500	1,205,500	1,019,300	1,018,200	972,800	1,005,700	1,110,100	1,085,400	1,016,200	1,156,900	1,146,200	968,200	831,000	819,232	748,808	633,192
Total current liabilities	US$ in thousands	654,800	691,600	582,500	374,100	537,700	485,100	285,700	253,500	245,800	225,900	212,900	190,000	186,500	611,000	573,000	140,300	565,300	115,652	100,589	72,003
Working capital turnover		1.98	1.86	1.83	1.44	1.54	1.81	1.65	1.55	1.52	1.35	1.13	1.14	1.23	1.86	1.71	1.04	2.88	0.93	0.90	0.90

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,882,900K ÷ ($1,607,000K – $654,800K)
= 1.98

The working capital turnover ratio of Neurocrine Biosciences, Inc. has shown fluctuations over the past eight quarters. It indicates how efficiently the company is utilizing its working capital to generate revenue. A higher working capital turnover ratio suggests that the company is efficiently managing its working capital and generating more revenue relative to the invested capital.

From Q1 2022 to Q3 2022, the company's working capital turnover ratio increased steadily from 1.58 to 1.93, showing improved efficiency in utilizing working capital to generate revenue. However, in Q4 2022, there was a slight decrease to 1.63. This decrease was followed by a significant increase to 1.98 in Q4 2023, indicating a strong performance in efficiently utilizing working capital to generate revenue at the end of the period.

Overall, the working capital turnover ratio of Neurocrine Biosciences, Inc. has been relatively healthy and has shown improvement over the quarters, reflecting effective working capital management practices within the company.