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

Company name
Symbol
Working capital turnover
Vicor Corporation
VICR
0.92
Advanced Energy Industries Inc
AEIS
1.19
Impinj Inc
PI