TransMedics Group Inc (TMDX)

Working capital turnover

		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	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	441,540	401,090	358,759	296,919	241,623	191,824	151,077	119,133	93,459	71,752	51,439	39,089	30,262	28,221	29,942	25,162	25,639	24,069	24,183	26,458
Total current assets	US$ in thousands	497,216	492,475	509,265	488,306	510,654	536,724	662,655	261,730	252,294	250,586	95,113	105,795	118,705	125,577	135,052	140,543	146,766	154,126	158,227	91,704
Total current liabilities	US$ in thousands	59,913	60,048	54,329	50,223	54,934	49,101	32,017	28,635	23,661	20,689	22,741	20,256	23,238	15,923	15,079	11,757	11,879	13,624	13,818	15,039
Working capital turnover		1.01	0.93	0.79	0.68	0.53	0.39	0.24	0.51	0.41	0.31	0.71	0.46	0.32	0.26	0.25	0.20	0.19	0.17	0.17	0.35

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $441,540K ÷ ($497,216K – $59,913K)
= 1.01

TransMedics Group Inc's working capital turnover has shown fluctuations over the analyzed period, ranging from 0.17 to 1.01. The trend indicates an overall improvement in efficiently utilizing its working capital to generate sales. Notably, there was a significant increase from 0.17 in June 2020 to 1.01 in December 2024, indicating a substantial enhancement in the company's ability to convert working capital into revenue.

However, there were periods of decline in the working capital turnover ratio, such as the decrease from 0.79 in June 2024 to 0.93 in September 2024. These fluctuations could indicate varying operational efficiencies or changes in the company's sales cycles during these periods.

Overall, the increasing trend in the working capital turnover ratio suggests that TransMedics Group Inc has been more effective in managing its working capital to support its sales growth and operational activities. Further monitoring of this ratio will be essential to assess the company's ongoing operational performance and financial health.