STAAR Surgical Company (STAA)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 322,415 | 284,391 | 230,472 | 163,460 | 150,185 |
| Total current assets | US$ in thousands | 365,269 | 311,723 | 271,411 | 216,418 | 174,666 |
| Total current liabilities | US$ in thousands | 65,036 | 51,716 | 48,802 | 41,236 | 34,478 |
| Working capital turnover | 1.07 | 1.09 | 1.04 | 0.93 | 1.07 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $322,415K ÷ ($365,269K – $65,036K)
= 1.07
STAAR Surgical Company's working capital turnover has fluctuated over the past five years, ranging from 0.93 to 1.09. The working capital turnover ratio measures how efficiently the company is utilizing its working capital to generate revenue. An increase in the ratio indicates improved efficiency in utilizing working capital to generate sales.
The slight decrease in the ratio from 1.09 in 2022 to 1.07 in 2023 suggests a slightly less efficient use of working capital in generating revenue. However, despite this decrease, the ratio remains relatively high, indicating that STAAR Surgical Company is effectively utilizing its working capital to support its operations and sales.
Overall, the company's working capital turnover ratio has shown consistency over the years, signifying a stable level of efficiency in managing its working capital to generate revenue. This ratio can help stakeholders assess the company's operational efficiency and financial performance.
Peer comparison
Dec 31, 2023