Proto Labs Inc (PRLB)
Working capital turnover
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 502,822 | 494,378 | 485,394 | 490,031 | 488,340 | 495,725 | 499,346 | 495,492 | 487,616 | 469,888 | 452,050 | 435,577 | 434,393 | 441,076 | 451,027 | 460,384 | 458,728 | 459,608 | 457,583 | 451,303 |
| Total current assets | US$ in thousands | 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 | 236,419 | 229,617 | 219,316 | 202,751 |
| Total current liabilities | US$ in thousands | 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 | 47,581 | 54,808 | 51,433 | 41,443 |
| Working capital turnover | 3.33 | 3.81 | 4.08 | 4.44 | 4.25 | 3.77 | 3.79 | 3.87 | 3.79 | 4.05 | 4.30 | 4.41 | 2.27 | 2.46 | 2.79 | 2.79 | 2.43 | 2.63 | 2.73 | 2.80 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $502,822K ÷ ($200,660K – $49,681K)
= 3.33
Proto Labs Inc has shown a consistent trend of increasing working capital turnover over the past eight quarters. The working capital turnover ratio, which measures how efficiently the company is utilizing its working capital to generate sales revenue, has improved from 3.34 in Q4 2022 to 4.44 in Q1 2023. This indicates that the company is becoming more efficient in managing its working capital to support its operations and generate sales. The upward trend in the ratio suggests that Proto Labs Inc is effectively leveraging its current assets and liabilities to support its revenue generation. Overall, the improving working capital turnover ratio reflects positively on Proto Labs Inc's operational efficiency and financial management.
Peer comparison
Dec 31, 2023