Qorvo Inc (QRVO)
Working capital turnover
Mar 31, 2025 | 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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (ttm) | US$ in thousands | 3,718,972 | 3,790,486 | 3,948,029 | 4,005,009 | 3,769,502 | 3,461,217 | 3,130,638 | 3,185,208 | 3,569,404 | 4,102,861 | 4,473,540 | 4,570,730 | 4,645,720 | 4,552,290 | 4,533,160 | 4,338,200 | 4,015,301 | 3,730,343 | 3,504,586 | 3,250,994 |
Total current assets | US$ in thousands | 2,167,280 | 2,096,860 | 2,532,460 | 2,378,190 | 2,446,030 | 2,428,370 | 2,262,880 | 2,087,780 | 2,029,790 | 2,257,700 | 2,521,280 | 2,372,490 | 2,449,860 | 2,445,850 | 2,541,270 | 2,374,080 | 2,483,800 | 2,322,260 | 3,062,730 | 2,079,330 |
Total current liabilities | US$ in thousands | 783,182 | 807,861 | 1,333,740 | 1,216,540 | 1,230,090 | 1,280,330 | 671,942 | 638,976 | 555,763 | 613,590 | 764,127 | 718,450 | 675,127 | 673,427 | 902,495 | 703,708 | 681,581 | 613,898 | 1,477,020 | 509,332 |
Working capital turnover | 2.69 | 2.94 | 3.29 | 3.45 | 3.10 | 3.01 | 1.97 | 2.20 | 2.42 | 2.50 | 2.55 | 2.76 | 2.62 | 2.57 | 2.77 | 2.60 | 2.23 | 2.18 | 2.21 | 2.07 |
March 31, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,718,972K ÷ ($2,167,280K – $783,182K)
= 2.69
The working capital turnover of Qorvo Inc has shown fluctuating trends over the years, indicating varying efficiencies in managing its working capital. The ratio increased consistently from June 30, 2020, to September 30, 2021, reaching its peak at 2.77 on September 30, 2021. This rise suggests that the company was effectively generating revenue relative to its working capital during this period.
However, the ratio started to decline after September 30, 2021, reaching its lowest point at 1.97 on September 30, 2023. This downturn implies a decrease in revenue generation efficiency concerning the company's working capital. There was a notable improvement in the working capital turnover in the following quarters, with the ratio rising to 3.10 on March 31, 2024, and further increasing to 3.45 on June 30, 2024.
Subsequently, the ratio stabilized around the range of 2.50 to 3.00 from September 30, 2024, to March 31, 2025, indicating a moderate level of revenue generation efficiency concerning the working capital during this period.
Overall, Qorvo Inc's working capital turnover ratio has shown fluctuations, signifying changes in how effectively the company is utilizing its working capital to generate revenue. It is essential for the company to closely monitor and manage its working capital efficiently to sustain and improve its operational performance.
Peer comparison
Mar 31, 2025