Qualys Inc (QLYS)

Working capital turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	607,571	554,458	489,723	411,172	362,963
Total current assets	US$ in thousands	585,691	599,998	473,338	546,398	475,345
Total current liabilities	US$ in thousands	428,390	389,208	352,188	304,280	255,730
Working capital turnover		3.86	2.63	4.04	1.70	1.65

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $607,571K ÷ ($585,691K – $428,390K)
= 3.86

The working capital turnover for Qualys Inc has shown a varying trend over the years. It increased from 1.65 in December 31, 2020, to 1.70 in December 31, 2021, indicating a slight improvement in efficiency in managing working capital.

However, there was a significant jump in the working capital turnover to 4.04 in December 31, 2022, suggesting a substantial increase in the company's ability to generate revenue from its working capital. This could indicate more effective management of current assets and liabilities during that year.

In the following years, the working capital turnover ratio remained relatively high compared to the initial years, standing at 2.63 in December 31, 2023, and 3.86 in December 31, 2024. These values indicate that Qualys Inc has maintained a good level of efficiency in utilizing its working capital to support its operations and generate sales.

Overall, the trend in working capital turnover for Qualys Inc reflects an improvement in the management of working capital over the years, with the company achieving higher turnover ratios in recent years, which signifies a more efficient utilization of its current assets and liabilities to drive revenue growth.