Twilio Inc (TWLO)
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 | 4,729,370 | 4,583,450 | 4,458,040 | 4,339,150 | 4,239,170 | 4,194,430 | 4,153,940 | 4,102,560 | 4,051,920 | 3,957,514 | 3,826,317 | 3,644,491 | 3,401,637 | 3,127,214 | 2,841,839 | 2,547,185 | 2,254,978 | 1,986,896 | 1,761,776 | 1,544,910 |
| Total current assets | US$ in thousands | 3,531,640 | 3,467,860 | 3,447,300 | 3,548,320 | 3,963,700 | 4,677,600 | 4,903,970 | 4,741,580 | 4,664,500 | 4,856,540 | 4,984,090 | 4,962,270 | 5,104,390 | 5,831,190 | 5,932,230 | 5,905,800 | 6,373,690 | 6,093,980 | 3,372,340 | 3,569,020 |
| Total current liabilities | US$ in thousands | 720,059 | 725,940 | 820,220 | 700,737 | 711,499 | 714,603 | 738,297 | 726,117 | 759,803 | 788,449 | 808,158 | 864,173 | 795,320 | 719,822 | 703,550 | 617,073 | 583,285 | 499,924 | 448,306 | 326,347 |
| Working capital turnover | 1.68 | 1.67 | 1.70 | 1.52 | 1.30 | 1.06 | 1.00 | 1.02 | 1.04 | 0.97 | 0.92 | 0.89 | 0.79 | 0.61 | 0.54 | 0.48 | 0.39 | 0.36 | 0.60 | 0.48 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $4,729,370K ÷ ($3,531,640K – $720,059K)
= 1.68
The working capital turnover ratio of Twilio Inc exhibits a general upward trend over the analyzed period from September 30, 2020, through June 30, 2025. Initially, the ratio was approximately 0.48 in September 2020, indicating that the company generated less than one dollar of revenue for each dollar of working capital employed. Over subsequent quarters, the ratio demonstrated a steady increase, reaching 0.60 by the end of 2020 and maintaining a similar trajectory with minor fluctuations into 2021.
Throughout 2021, the ratio hovered around the mid-0.40s to low 0.50s, suggesting incremental improvements in the efficiency of working capital utilization relative to revenue generation. Starting from early 2022, the ratio showed a more pronounced upward movement, surpassing 0.60 by March 2022, and continuing this ascent to reach approximately 0.89 by late 2022. This trend indicates that Twilio has been increasingly effective in turning its working capital into revenue.
From 2023 onward, the ratio exceeds unity, reaching approximately 1.97 by March 2023 and climbing further to 1.70 by December 2024. The ratios reflect a significant enhancement in operational efficiency, with Twilio now generating more revenue per unit of working capital. The ratio peaks at around 1.68 in June 2025, indicating sustained operational improvement.
Overall, the data indicates a positive trend in Twilio’s working capital turnover, illustrating enhanced operational efficiency and better utilization of working capital to generate revenue. The consistent increase suggests effective management practices and potentially healthier operational leverage over the period analyzed.
Peer comparison
Jun 30, 2025