Pacira Pharmaceuticals Inc (PCRX)

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	638,707	621,403	618,553	613,360	627,091	646,604	609,214	577,203	541,534	491,997	489,092	436,030	429,647	421,097	408,298	435,397	421,026	393,717	372,480	353,983
Total current assets	US$ in thousands	509,994	447,255	429,324	376,114	498,334	533,411	526,210	667,018	866,048	822,352	792,579	720,247	651,623	658,520	455,823	431,594	408,557	378,847	394,609	508,673
Total current liabilities	US$ in thousands	97,383	93,661	108,912	98,698	147,774	131,526	133,179	305,073	521,118	225,788	228,693	232,084	253,328	86,272	70,583	80,313	107,673	95,838	83,004	58,991
Working capital turnover		1.55	1.76	1.93	2.21	1.79	1.61	1.55	1.59	1.57	0.82	0.87	0.89	1.08	0.74	1.06	1.24	1.40	1.39	1.20	0.79

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $638,707K ÷ ($509,994K – $97,383K)
= 1.55

Pacira BioSciences Inc's working capital turnover has fluctuated over the past eight quarters, ranging from a low of 1.56 in Q2 2022 to a high of 2.41 in Q1 2023. The working capital turnover ratio indicates how efficiently the company is utilizing its working capital to generate revenue. A higher ratio suggests that the company is effectively managing its working capital to generate sales, while a lower ratio may indicate inefficiencies in working capital management.

In Pacira BioSciences Inc's case, we can observe an overall increasing trend in the working capital turnover ratio from Q2 2022 to Q1 2023, indicating improved efficiency in converting working capital into sales during this period. However, the ratio declined in Q4 2023 compared to the previous quarter, which suggests that the company may have experienced challenges in optimizing its working capital efficiency in the most recent period.

Further analysis of the underlying factors contributing to these fluctuations in the working capital turnover ratio, such as changes in inventory management, accounts receivable, and accounts payable practices, would be necessary to provide a more detailed assessment of Pacira BioSciences Inc's working capital management performance.