Bio-Techne Corp (TECH)

Working capital turnover

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 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
Revenue (ttm) US$ in thousands 1,219,634 1,208,768 1,196,015 1,171,582 1,159,059 1,154,281 1,144,999 1,143,982 1,136,702 1,123,611 1,119,841 1,117,536 1,105,600 1,076,399 1,029,575 984,552 931,032 847,838 798,966 759,647
Total current assets US$ in thousands 608,300 627,240 634,640 648,567 617,419 610,650 590,640 591,477 621,482 570,996 565,183 552,031 605,556 593,108 590,230 543,748 510,606 566,606 541,933 541,893
Total current liabilities US$ in thousands 175,849 169,204 161,256 142,128 159,379 149,820 135,231 127,754 128,509 141,163 128,395 137,629 176,018 166,838 154,809 133,992 152,284 137,640 117,568 105,424
Working capital turnover 2.82 2.64 2.53 2.31 2.53 2.50 2.51 2.47 2.31 2.61 2.56 2.70 2.57 2.53 2.36 2.40 2.60 1.98 1.88 1.74

June 30, 2025 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,219,634K ÷ ($608,300K – $175,849K)
= 2.82

The analysis of Bio-Techne Corp's working capital turnover ratio from September 30, 2020, to June 30, 2025, reveals a pattern of gradual fluctuations with periods of increase and slight declines. Initially, the ratio increased from 1.74 in September 2020 to 2.60 by June 2021, indicating an improvement in the efficiency of utilizing working capital to generate sales during this period. Subsequently, the ratio experienced minor oscillations, reaching approximately 2.70 in September 2022 before stabilizing around 2.50 to 2.60 in the subsequent quarters.

Throughout the period, the ratio generally remained above 2.3, suggesting a relatively consistent efficiency in working capital utilization. The peak value observed was approximately 2.82 in June 2025, while the lowest was 1.74 in September 2020. The ratios display a pattern of expansion followed by slight contraction, which may reflect adjustments in operational efficiency or changes in working capital management strategies.

Overall, the data suggests that Bio-Techne Corp has maintained a steady level of operational efficiency in managing its working capital relative to sales. The modest fluctuations are typical of a stable company, with a trend towards marginal improvement in recent periods, as evidenced by the ratio surpassing 2.5 in the latest measurements.