SolarWinds Corp (SWI)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	758,740	719,367	718,632	716,770	669,103
Total current assets	US$ in thousands	421,327	307,393	858,840	512,733	319,899
Total current liabilities	US$ in thousands	468,808	456,633	413,877	491,204	423,013
Working capital turnover		—	—	1.62	33.29	—

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $758,740K ÷ ($421,327K – $468,808K)
= —

The working capital turnover ratio for SolarWinds Corp reveals a fluctuating trend over the past five years. In 2021, the company had a working capital turnover of 1.62, indicating that it generated $1.62 in revenue for every dollar of working capital. This ratio significantly increased to 33.29 in 2020, reflecting a substantial improvement in efficiency in utilizing its working capital to generate revenue. However, the absence of data for the other years limits a detailed trend analysis. A consistently high working capital turnover ratio can suggest effective management of working capital and efficient operations, while a declining ratio may indicate inefficiencies in utilizing the company's current assets to generate sales. Further data would be necessary to assess the trend and performance of SolarWinds Corp's working capital turnover more comprehensively.