Repligen Corporation (RGEN)

Working capital turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 634,439 638,764 801,536 670,534 366,260
Total current assets US$ in thousands 783,964 1,111,040 998,118 931,677 902,382
Total current liabilities US$ in thousands 126,787 158,162 404,196 375,262 318,956
Working capital turnover 0.97 0.67 1.35 1.21 0.63

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $634,439K ÷ ($783,964K – $126,787K)
= 0.97

Repligen Corporation's working capital turnover has fluctuated over the past five years. The company's working capital turnover ratio was 0.63 as of December 31, 2020, indicating that for every dollar of working capital, the company generated $0.63 of revenue.

However, there was a significant improvement in efficiency in the following years. By December 31, 2021, the working capital turnover ratio had increased to 1.21, signaling that the company was able to generate $1.21 of revenue for each dollar of working capital employed. This improvement continued into 2022, with the ratio rising to 1.35, showcasing even better efficiency in utilizing its working capital resources.

There was a slight decline in the working capital turnover ratio by December 31, 2023, where it dropped to 0.67, indicating a decrease in the company's ability to generate revenue relative to its working capital. However, by December 31, 2024, the ratio had rebounded to 0.97, showing some improvement from the previous year but still below the peak in 2022.

Overall, Repligen Corporation has shown variability in its working capital turnover ratio over the past five years, with periods of improvement and decline. The company should continue to monitor and manage its working capital efficiently to ensure optimal utilization of resources for revenue generation.