Insulet Corporation (PODD)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,697,100 | 1,305,300 | 1,098,800 | 904,400 | 695,500 |
| Total current assets | US$ in thousands | 1,582,900 | 1,314,000 | 1,329,800 | 1,248,700 | 591,000 |
| Total current liabilities | US$ in thousands | 451,200 | 364,700 | 228,800 | 207,800 | 157,700 |
| Working capital turnover | 1.50 | 1.38 | 1.00 | 0.87 | 1.61 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,697,100K ÷ ($1,582,900K – $451,200K)
= 1.50
The working capital turnover of Insulet Corporation has fluctuated over the past five years. In 2023, the working capital turnover ratio improved to 1.50 from 1.38 in 2022, indicating that the company generated $1.50 in net sales revenue for every dollar of working capital invested during the year. This increase suggests more efficient utilization of working capital in generating sales.
Looking back, in 2021, the working capital turnover was relatively low at 1.00, indicating that the company generated $1.00 of net sales revenue for every dollar of working capital invested during that year. This could suggest a less efficient use of working capital during that period.
In 2020, the working capital turnover ratio was 0.87, which indicates a slight decrease in efficiency compared to the previous year. However, in 2019, the ratio was notably higher at 1.70, suggesting that the company was more effective in utilizing its working capital to generate sales revenue.
Overall, the trend in Insulet Corporation's working capital turnover indicates fluctuations in the efficiency of utilizing working capital over the past five years, with improvements in some years and declines in others.
Peer comparison
Dec 31, 2023