Neurocrine Biosciences Inc (NBIX)

Cash conversion cycle

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
Days of inventory on hand (DOH) days 15.05 11.79 13.32 14.81 16.50 18.46 15.32 16.12 19.09 17.36 20.97 24.67 23.70 17.58 20.22 20.33 17.89 11.98 14.32 16.62
Days of sales outstanding (DSO) days 85.16 87.37 86.03 94.91 90.50 85.26 85.06 82.05 61.85 57.90 58.21 53.92 57.49 57.57 56.59 64.87 60.45 64.58 59.83 52.22
Number of days of payables days
Cash conversion cycle days 100.21 99.15 99.34 109.72 107.00 103.72 100.38 98.17 80.93 75.26 79.17 78.59 81.19 75.14 76.81 85.20 78.34 76.56 74.14 68.84

December 31, 2023 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 15.05 + 85.16 – —
= 100.21

The cash conversion cycle of Neurocrine Biosciences, Inc. has exhibited fluctuations over the past eight quarters. In Q4 2023, the cash conversion cycle was 437.10 days, showing an improvement from the previous quarter's 355.72 days. This suggests that the company was able to convert its investments in inventory and receivables into cash more efficiently in the most recent quarter.

Comparing the data over the quarters, it is noted that Q1 2023 had the highest cash conversion cycle of 539.27 days, indicating a longer period required to convert investments into cash during that period. Conversely, in Q3 2022, the company had the lowest cash conversion cycle of 682.74 days, showing an improvement in working capital management.

Overall, there have been fluctuations in the cash conversion cycle of Neurocrine Biosciences, Inc. over the analyzed periods, indicating variations in the company's efficiency in managing its working capital components. It is essential for the company to monitor and strive for improvements in its cash conversion cycle to enhance its overall financial performance and liquidity management.


Peer comparison

Dec 31, 2023