Quidel Corporation (QDEL)

Working capital turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022
Revenue (ttm)	US$ in thousands	2,997,800	3,121,700	3,161,500	3,109,800
Total current assets	US$ in thousands	1,310,500	1,371,300	1,308,100	1,498,900	1,575,100	1,445,200	1,559,100
Total current liabilities	US$ in thousands	833,800	860,000	790,000	907,800	1,007,000	872,700	900,000
Working capital turnover		6.29	6.11	6.10	5.26

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,997,800K ÷ ($1,310,500K – $833,800K)
= 6.29

The working capital turnover of Quidel Corporation has shown consistent improvement over the past year, with values of 6.29, 6.11, 6.10, and 5.26 in the most recent quarters. This indicates that the company efficiently utilizes its working capital to generate sales revenue. A higher working capital turnover ratio suggests that Quidel is effectively managing its current assets and liabilities to support its operations and sales activities. This trend in working capital turnover reflects positively on Quidel's ability to efficiently convert its working capital into sales, which is vital for sustaining and growing the business.