Pfizer Inc (PFE)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	58,496,000	100,330,000	81,288,000	41,651,000	50,108,000
Total current assets	US$ in thousands	43,333,000	51,259,000	59,693,000	35,067,000	32,803,000
Total current liabilities	US$ in thousands	47,794,000	42,138,000	42,671,000	25,920,000	37,304,000
Working capital turnover		—	11.00	4.78	4.55	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $58,496,000K ÷ ($43,333,000K – $47,794,000K)
= —

The working capital turnover of Pfizer Inc. has shown a fluctuating trend over the past five years. In 2020, the working capital turnover was 4.58, indicating that Pfizer generated $4.58 in revenue for every dollar of working capital invested in that year. This ratio increased to 4.78 in 2021, suggesting a slightly more efficient use of working capital compared to the previous year.

Notably, in 2022, Pfizer significantly improved its working capital turnover to 11.00, indicating a substantial increase in efficiency in utilizing its working capital to generate revenue. However, the working capital turnover for 2023 is not provided in the table for a direct comparison.

Overall, an increasing trend in the working capital turnover ratio signifies that Pfizer is becoming more efficient in utilizing its working capital to generate sales revenue, which is a positive indicator of the company's operational effectiveness.