Proto Labs Inc (PRLB)
Working capital turnover
| Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 500,890 | 504,188 | 509,274 | 505,908 | 503,877 | 494,436 | 485,452 | 490,089 | 488,398 | 496,373 | 499,994 | 496,140 | 488,098 | 469,724 | 451,886 | 435,413 | 434,395 | 441,076 | 451,027 | 460,384 |
| Total current assets | US$ in thousands | 194,854 | 193,074 | 207,623 | 210,420 | 200,660 | 204,511 | 185,152 | 188,716 | 186,568 | 192,357 | 190,676 | 188,212 | 183,492 | 172,123 | 167,513 | 158,516 | 242,002 | 231,113 | 212,967 | 212,474 |
| Total current liabilities | US$ in thousands | 53,271 | 53,758 | 50,946 | 58,436 | 49,681 | 74,628 | 66,221 | 78,380 | 71,581 | 60,720 | 58,916 | 60,251 | 54,896 | 56,063 | 62,417 | 59,849 | 50,254 | 51,693 | 51,103 | 47,297 |
| Working capital turnover | 3.54 | 3.62 | 3.25 | 3.33 | 3.34 | 3.81 | 4.08 | 4.44 | 4.25 | 3.77 | 3.79 | 3.88 | 3.80 | 4.05 | 4.30 | 4.41 | 2.27 | 2.46 | 2.79 | 2.79 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $500,890K ÷ ($194,854K – $53,271K)
= 3.54
Proto Labs Inc's working capital turnover has shown fluctuations over the past few years. The ratio was relatively stable around 2.5 to 2.8 from March 2020 to December 2021. However, there was a significant increase in the ratio from March 2021 to June 2021, indicating improved efficiency in utilizing working capital. This trend continued through September 2021, with a slight decrease in December 2021.
From March 2022 to June 2024, Proto Labs Inc's working capital turnover remained above 3, indicating a consistent and efficient use of working capital to generate sales. However, there were minor fluctuations in the ratio during this period, suggesting potential changes in the company's working capital management.
Overall, Proto Labs Inc's working capital turnover has shown a generally positive trend, indicating a relatively efficient utilization of working capital to generate revenue. It is important for the company to continue monitoring and managing its working capital effectively to support its ongoing operations and growth.
Peer comparison
Dec 31, 2024