Qualys Inc (QLYS)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	554,458	489,723	411,172	362,963	321,607
Total current assets	US$ in thousands	599,998	473,338	546,398	475,345	395,616
Total current liabilities	US$ in thousands	389,208	352,188	304,280	255,730	223,467
Working capital turnover		2.63	4.04	1.70	1.65	1.87

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $554,458K ÷ ($599,998K – $389,208K)
= 2.63

Qualys Inc's working capital turnover has fluctuated over the past five years. The ratio indicates how efficiently the company is using its working capital to generate revenue. A higher working capital turnover is generally preferred as it suggests that the company is effectively managing its working capital.

In 2023, the working capital turnover decreased to 2.63 from 4.04 in 2022, indicating a decrease in the efficiency of utilizing working capital to generate revenue. However, the ratio is still relatively high compared to 2021 and 2020, suggesting that the company improved its working capital management compared to those years.

Overall, Qualys Inc's working capital turnover has shown variability over the years, with fluctuations between 1.65 and 4.04. Further analysis of the company's working capital management practices and operational efficiency would provide more insights into the reasons behind these fluctuations.