STAAR Surgical Company (STAA)
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 | 322,415 | 310,186 | 305,924 | 294,719 | 284,391 | 279,348 | 261,654 | 242,920 | 230,472 | 217,469 | 206,198 | 179,025 | 163,460 | 156,345 | 148,319 | 152,789 | 150,185 | 142,488 | 135,203 | 129,444 |
| Total current assets | US$ in thousands | 365,269 | 347,068 | 328,003 | 312,871 | 311,723 | 296,910 | 296,456 | 273,902 | 271,411 | 263,945 | 248,117 | 223,515 | 216,418 | 196,003 | 182,517 | 172,076 | 174,666 | 164,962 | 158,908 | 152,685 |
| Total current liabilities | US$ in thousands | 65,036 | 56,775 | 54,194 | 47,063 | 51,716 | 45,320 | 46,514 | 41,182 | 48,802 | 46,796 | 41,801 | 36,129 | 41,236 | 33,859 | 31,589 | 29,902 | 34,478 | 29,972 | 28,711 | 28,231 |
| Working capital turnover | 1.07 | 1.07 | 1.12 | 1.11 | 1.09 | 1.11 | 1.05 | 1.04 | 1.04 | 1.00 | 1.00 | 0.96 | 0.93 | 0.96 | 0.98 | 1.07 | 1.07 | 1.06 | 1.04 | 1.04 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $322,415K ÷ ($365,269K – $65,036K)
= 1.07
The working capital turnover of STAAR Surgical Company has fluctuated over the past few quarters. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue. A higher ratio typically suggests a more efficient use of working capital.
The trend shows some variability from quarter to quarter, with values ranging from 0.93 to 1.12. Generally, the company's working capital turnover has been relatively stable around 1.0, indicating that, on average, for each dollar of working capital, the company generates around $1.00 of revenue.
The increase in the ratio from 0.93 in December 2020 to 1.12 in June 2023 may suggest improved efficiency in managing working capital during this period. However, the fluctuations in the ratio in subsequent quarters indicate some volatility in the company's working capital management.
Overall, while the working capital turnover ratio provides insights into the efficiency of working capital utilization, it is important to consider other financial metrics and factors to gain a comprehensive understanding of STAAR Surgical Company's financial performance and sustainability.
Peer comparison
Dec 31, 2023