Penumbra Inc (PEN)

Working capital turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 1,194,620 1,058,520 847,133 747,590 560,412
Total current assets US$ in thousands 951,125 915,402 755,699 681,474 617,702
Total current liabilities US$ in thousands 158,345 151,144 144,932 123,197 105,932
Working capital turnover 1.51 1.39 1.39 1.34 1.10

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,194,620K ÷ ($951,125K – $158,345K)
= 1.51

The working capital turnover of Penumbra Inc has shown a positive trend over the years. Starting at 1.10 in December 2020, the company has effectively managed its working capital to generate sales. By December 2021, the working capital turnover improved to 1.34, indicating that the company utilized its working capital more efficiently to support its revenue generation. This trend continued in 2022 and 2023, where the working capital turnover increased to 1.39 for both years.

Notably, by December 2024, the working capital turnover reached its highest point of 1.51, showcasing the company's ability to optimize its working capital resources to generate sales. This consistent improvement in working capital turnover demonstrates Penumbra Inc's proficient management of its working capital to support its operations and drive revenue growth efficiently.