Impinj Inc (PI)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 302,856 | 254,853 | 189,633 | 135,412 | 152,262 |
| Total current assets | US$ in thousands | 269,696 | 275,170 | 255,802 | 171,364 | 176,769 |
| Total current liabilities | US$ in thousands | 30,880 | 42,369 | 35,503 | 27,593 | 19,497 |
| Working capital turnover | 1.27 | 1.09 | 0.86 | 0.94 | 0.97 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $302,856K ÷ ($269,696K – $30,880K)
= 1.27
Impinj Inc's working capital turnover has been showing an increasing trend over the past five years, indicating improved efficiency in utilizing its working capital. The ratio has increased from 0.97 in 2019 to 1.27 in 2023. This implies that the company generated $1.27 in revenue for every $1 of working capital invested in its operations in 2023, compared to $0.97 in 2019.
A higher working capital turnover suggests that the company is managing its working capital more effectively to support its revenue generation. The rising trend indicates that Impinj Inc has become more efficient in utilizing its current assets and liabilities to drive sales and operations. This can be beneficial in terms of improving liquidity, reducing financial risk, and enhancing overall financial performance.
Peer comparison
Dec 31, 2023