Penumbra Inc (PEN)

Working capital turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Revenue (ttm) US$ in thousands 1,194,615 1,163,776 1,133,683 1,095,779 1,058,522 995,059 937,791 884,636 847,133 829,928 806,367 782,281 747,590 710,477 671,436 592,287 560,412 538,777 527,203 556,295
Total current assets US$ in thousands 951,125 891,753 943,795 935,023 915,402 868,476 827,876 786,490 755,699 723,625 717,961 690,326 681,474 667,987 653,112 635,127 617,702 590,199 575,895 453,740
Total current liabilities US$ in thousands 158,345 153,185 150,994 152,803 151,144 145,078 144,124 146,328 144,932 138,332 145,604 130,099 123,197 116,059 108,046 111,862 105,932 108,055 77,612 88,074
Working capital turnover 1.51 1.58 1.43 1.40 1.39 1.38 1.37 1.38 1.39 1.42 1.41 1.40 1.34 1.29 1.23 1.13 1.10 1.12 1.06 1.52

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,194,615K ÷ ($951,125K – $158,345K)
= 1.51

The working capital turnover ratio for Penumbra Inc has shown a fluctuating trend over the years, ranging from a low of 1.06 in June 2020 to a high of 1.58 in September 2024. This ratio measures the efficiency of the company in utilizing its working capital to generate sales revenue.

Overall, the working capital turnover ratio has generally increased from 1.06 in June 2020 to 1.51 in December 2024, indicating an improvement in the company's ability to generate sales relative to its working capital. The upward trend suggests that Penumbra Inc has been more effective in managing its working capital over the years.

However, there were some fluctuations in the ratio during this period, reaching a peak of 1.58 in September 2024 before slightly decreasing to 1.51 by the end of December 2024. These fluctuations could be influenced by various factors such as changes in sales volume, inventory management, or payment terms with suppliers.

Overall, the upward trend in the working capital turnover ratio suggests that Penumbra Inc has improved its efficiency in utilizing its working capital to support its sales activities, which is a positive indicator of the company's operational performance.