Bio-Techne Corp (TECH)

Working capital turnover

		Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,159,360	1,137,352	1,130,708	1,131,664	1,137,169	1,125,274	1,120,378	1,117,527	1,094,290	1,064,304	1,017,313	971,607	917,080	837,177	786,479	745,873	724,111	739,941	729,495	718,184
Total current assets	US$ in thousands	617,419	610,650	590,640	591,477	621,482	570,996	565,183	552,031	605,556	593,108	590,230	543,748	510,606	566,606	541,933	541,893	520,920	491,928	465,074	391,945
Total current liabilities	US$ in thousands	159,379	149,820	135,231	127,754	128,509	141,163	128,395	137,629	176,018	166,838	154,809	133,992	152,284	137,640	117,568	105,424	106,668	104,985	104,953	88,268
Working capital turnover		2.53	2.47	2.48	2.44	2.31	2.62	2.57	2.70	2.55	2.50	2.34	2.37	2.56	1.95	1.85	1.71	1.75	1.91	2.03	2.36

June 30, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,159,360K ÷ ($617,419K – $159,379K)
= 2.53

The working capital turnover for Bio-Techne Corp has fluctuated over the past several quarters. It measures how efficient the company is at using its working capital to generate sales. A higher working capital turnover ratio indicates that the company is effectively utilizing its current assets to support its operations and generate revenue.

In the given data, we see that the working capital turnover ratio has ranged from a low of 1.71 to a high of 2.70 during the period under review. The ratio has shown some variability, with fluctuations in each quarter. However, on average, the company's working capital turnover ratio appears to be relatively stable, hovering around 2.40.

It is important for the company to closely monitor this ratio to ensure that it is managing its working capital efficiently. A consistently low ratio could indicate inefficiencies or excess working capital, while a consistently high ratio could signal the need for additional investment in working capital to support sales growth.

Overall, the trend in Bio-Techne Corp's working capital turnover ratio suggests that the company is effectively managing its working capital to support its sales activities.