Impinj Inc (PI)
Working capital turnover
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 342,903 | 311,497 | 293,777 | 302,856 | 309,132 | 312,899 | 287,164 | 254,853 | 231,051 | 208,634 | 196,812 | 189,633 | 173,091 | 155,260 | 133,625 | 135,412 | 141,389 | 154,427 | 166,613 | 152,691 |
| Total current assets | US$ in thousands | 329,087 | 358,318 | 324,405 | 269,696 | 272,963 | 283,623 | 305,154 | 275,170 | 259,950 | 239,077 | 242,556 | 255,802 | 163,060 | 165,673 | 173,729 | 171,364 | 164,171 | 175,237 | 180,980 | 176,769 |
| Total current liabilities | US$ in thousands | 331,095 | 318,922 | 34,443 | 30,880 | 33,758 | 50,878 | 54,604 | 42,369 | 33,635 | 25,333 | 32,642 | 35,503 | 107,215 | 107,706 | 112,185 | 27,593 | 19,583 | 24,449 | 19,664 | 19,497 |
| Working capital turnover | — | 7.91 | 1.01 | 1.27 | 1.29 | 1.34 | 1.15 | 1.09 | 1.02 | 0.98 | 0.94 | 0.86 | 3.10 | 2.68 | 2.17 | 0.94 | 0.98 | 1.02 | 1.03 | 0.97 |
September 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $342,903K ÷ ($329,087K – $331,095K)
= —
The working capital turnover ratio for Impinj Inc has shown fluctuations over the past several quarters. The ratio indicates the efficiency of the company in utilizing its working capital to generate sales revenue. A higher ratio generally implies better efficiency in managing working capital.
In the most recent quarter, as of September 30, 2024, Impinj Inc had a working capital turnover ratio of 7.91, which is significantly higher compared to the past quarters. This could indicate that the company was able to generate a higher level of sales revenue relative to its working capital investment during this period.
Looking at the trend over the past few quarters, the working capital turnover ratio has been quite volatile, with some fluctuations observed. For example, there was a significant increase in the ratio in the previous quarter (June 30, 2024) compared to the preceding quarters. This could suggest improvements in working capital management strategies during that period.
It is important for the company to consistently monitor and manage its working capital effectively to ensure optimal utilization and efficiency in generating sales revenue. Fluctuations in the working capital turnover ratio should be analyzed to identify any underlying reasons and to make necessary adjustments to improve operational efficiency and financial performance.
Peer comparison
Sep 30, 2024