Vicor Corporation (VICR)
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 | 370,897 | 364,507 | 379,099 | 399,963 | 413,907 | 420,379 | 415,653 | 411,092 | 401,558 | 744,011 | 725,804 | 718,994 | 719,508 | 353,979 | 347,180 | 322,565 | 297,170 | 275,993 | 268,669 | 261,279 |
| Total current assets | US$ in thousands | 463,034 | 450,824 | 435,335 | 428,265 | 420,366 | 398,967 | 378,786 | 366,370 | 362,604 | 358,153 | 352,331 | 344,594 | 356,760 | 350,002 | 349,030 | 332,037 | 316,932 | 309,782 | 308,678 | 185,190 |
| Total current liabilities | US$ in thousands | 61,820 | 70,371 | 67,836 | 64,081 | 44,169 | 46,533 | 49,976 | 53,672 | 64,549 | 64,359 | 59,453 | 49,560 | 49,093 | 42,615 | 49,777 | 42,878 | 40,513 | 37,998 | 41,919 | 35,220 |
| Working capital turnover | 0.92 | 0.96 | 1.03 | 1.10 | 1.10 | 1.19 | 1.26 | 1.31 | 1.35 | 2.53 | 2.48 | 2.44 | 2.34 | 1.15 | 1.16 | 1.12 | 1.08 | 1.02 | 1.01 | 1.74 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $370,897K ÷ ($463,034K – $61,820K)
= 0.92
The working capital turnover ratio for Vicor Corporation has fluctuated over the period from March 31, 2020, to December 31, 2024. The ratio started at 1.74 on March 31, 2020, indicating that Vicor generated $1.74 in revenue for every dollar of working capital invested.
There was a significant decrease in the ratio in June 2020 to 1.01, reflecting a decrease in revenue relative to the working capital invested. This trend continued until December 2021, when the ratio improved to 2.34, showing that Vicor was able to generate $2.34 in revenue for every dollar of working capital.
However, from March 31, 2022, to December 31, 2024, the working capital turnover ratio decreased gradually, reaching 0.92 by December 31, 2024. This decline suggests that Vicor's efficiency in generating revenue from the working capital invested has decreased over time, and the company may need to review its working capital management strategies to improve this ratio.
Peer comparison
Dec 31, 2024