Proto Labs Inc (PRLB)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 499,414 | 489,514 | 487,522 | 434,393 | 458,728 |
| Total current assets | US$ in thousands | 200,660 | 186,568 | 183,492 | 242,002 | 236,419 |
| Total current liabilities | US$ in thousands | 49,681 | 71,581 | 54,896 | 50,254 | 47,581 |
| Working capital turnover | 3.31 | 4.26 | 3.79 | 2.27 | 2.43 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $499,414K ÷ ($200,660K – $49,681K)
= 3.31
Proto Labs Inc's working capital turnover has fluctuated over the past five years. The ratio peaked at 4.25 in 2022 before decreasing to 3.80 in 2021. This indicates that the company generated $4.25 and $3.80 in revenue for every dollar of working capital in those years, respectively. In 2023, the ratio decreased further to 3.34, suggesting a decline in efficiency in utilizing working capital to generate revenue. However, it is important to note that a higher working capital turnover ratio generally indicates better efficiency in managing working capital. Overall, Proto Labs Inc should continue to monitor its working capital turnover to ensure optimal utilization of resources.
Peer comparison
Dec 31, 2023