NeoGenomics Inc (NEO)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 660,566 | 591,643 | 509,728 | 484,329 | 444,448 |
| Total current assets | US$ in thousands | 596,019 | 596,812 | 605,291 | 681,508 | 448,730 |
| Total current liabilities | US$ in thousands | 301,241 | 96,304 | 89,932 | 87,232 | 73,183 |
| Working capital turnover | 2.24 | 1.18 | 0.99 | 0.81 | 1.18 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $660,566K ÷ ($596,019K – $301,241K)
= 2.24
NeoGenomics Inc's working capital turnover has fluctuated over the past five years. In December 31, 2020, the working capital turnover was 1.18, indicating that the company generated $1.18 in revenue for every dollar of working capital invested. However, by December 31, 2021, the working capital turnover decreased to 0.81, suggesting a less efficient utilization of working capital.
By December 31, 2022, the working capital turnover improved to 0.99, showing a moderate increase in efficiency compared to the previous year. In December 31, 2023, the turnover ratio returned to the level of 1.18, indicating a recovery in efficiency similar to 2020.
Notably, in December 31, 2024, the working capital turnover significantly improved to 2.24, signifying a substantial increase in efficiency and effectiveness in generating revenue from working capital. This could reflect better management of working capital resources or improvements in the company's operations.
Overall, the fluctuation in NeoGenomics Inc's working capital turnover suggests varying levels of efficiency in utilizing working capital over the five-year period, with improvements seen in certain years, particularly the significant increase in efficiency in 2024.