RadNet Inc (RDNT)
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 | 1,616,630 | 1,580,123 | 1,528,199 | 1,478,859 | 1,430,062 | 1,379,335 | 1,361,981 | 1,341,524 | 1,315,076 | 1,289,862 | 1,248,948 | 1,105,596 | 1,071,841 | 1,064,746 | 1,065,662 | 1,164,193 | 1,154,178 | 1,110,549 | 1,060,005 | 1,015,303 |
| Total current assets | US$ in thousands | 579,276 | 578,672 | 602,691 | 342,685 | 367,184 | 324,505 | 319,104 | 288,696 | 324,264 | 339,996 | 334,919 | 222,997 | 270,424 | 259,056 | 247,520 | 280,199 | 241,174 | 239,719 | 234,474 | 216,131 |
| Total current liabilities | US$ in thousands | 437,452 | 407,077 | 434,234 | 407,143 | 466,723 | 409,223 | 404,518 | 381,298 | 374,784 | 371,495 | 381,267 | 402,617 | 398,114 | 373,787 | 382,393 | 327,991 | 327,428 | 309,516 | 293,249 | 300,586 |
| Working capital turnover | 11.40 | 9.21 | 9.07 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,616,630K ÷ ($579,276K – $437,452K)
= 11.40
The working capital turnover for Radnet Inc has been relatively stable and improving over the past four quarters. In Q4 2023, the working capital turnover ratio was 11.40, showing an increase from the previous quarter. This indicates that Radnet Inc is efficiently utilizing its working capital to generate revenue. A higher working capital turnover ratio signifies that the company is able to generate more sales for each unit of working capital invested. Overall, the trend is positive and suggests a healthy operational efficiency in utilizing working capital for the business operations.
Peer comparison
Dec 31, 2023