Ultra Clean Holdings Inc (UCTT)

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	2,097,500	1,978,900	1,873,500	1,778,900	1,734,500	1,856,200	2,056,200	2,243,400	2,374,200	2,422,900	2,341,600	2,248,100	2,101,600	1,856,100	1,665,700	1,495,300	1,398,600	1,315,400	1,206,400	1,127,000
Total current assets	US$ in thousands	970,100	985,800	960,800	908,700	893,200	925,800	935,400	981,200	1,098,800	1,136,100	1,111,800	1,122,700	1,137,100	1,052,700	999,300	636,200	545,100	514,100	565,800	527,900
Total current liabilities	US$ in thousands	335,600	358,800	351,400	329,400	310,000	293,600	294,300	313,700	389,200	407,400	395,400	417,600	469,100	411,000	355,000	263,100	201,200	195,300	226,900	213,000
Working capital turnover		3.31	3.16	3.07	3.07	2.97	2.94	3.21	3.36	3.35	3.32	3.27	3.19	3.15	2.89	2.59	4.01	4.07	4.13	3.56	3.58

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,097,500K ÷ ($970,100K – $335,600K)
= 3.31

Ultra Clean Holdings Inc's working capital turnover has shown fluctuations over the periods analyzed. The ratio measures the efficiency of the company in generating revenue from its working capital.

In the recent quarters, the working capital turnover ratio has ranged from a low of 2.59 in June 2021 to a high of 4.13 in September 2020. This indicates variability in the company's ability to efficiently utilize its working capital to generate sales during different periods.

Overall, the company's working capital turnover has generally been around the range of 3 to 4 times, suggesting that Ultra Clean Holdings Inc has been effectively leveraging its working capital to support its operations and generate revenue.

It is important for the company to monitor and manage its working capital efficiently to ensure optimal utilization and maintain a healthy turnover ratio. Additional analysis and comparison with industry peers may provide further insights into the company's performance in this aspect.