Xencor Inc (XNCR)

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	110,493	85,164	133,618	162,181	168,338	145,259	113,394	98,046	164,579	296,985	289,369	326,641	275,111	162,949	178,632	124,274	122,694	84,356	70,750	77,146
Total current assets	US$ in thousands	577,601	573,328	554,470	562,252	623,160	571,176	593,562	629,976	675,342	667,998	585,936	505,970	424,368	329,629	480,967	591,168	637,672	570,883	603,386	588,107
Total current liabilities	US$ in thousands	87,432	91,972	80,076	79,402	84,709	53,041	44,630	65,056	63,844	90,032	75,041	60,941	70,738	44,317	45,962	99,931	121,061	70,488	66,449	65,917
Working capital turnover		0.23	0.18	0.28	0.34	0.31	0.28	0.21	0.17	0.27	0.51	0.57	0.73	0.78	0.57	0.41	0.25	0.24	0.17	0.13	0.15

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $110,493K ÷ ($577,601K – $87,432K)
= 0.23

Working capital turnover is a financial ratio that indicates how efficiently a company utilizes its working capital to generate sales revenue. It is calculated by dividing the total revenue by the average working capital during a specific period.

Based on the data provided for Xencor Inc's working capital turnover over the past several quarters, we observe fluctuations in the ratio. The working capital turnover ratio increased from 0.13 in June 2020 to 0.78 in December 2021, indicating an improvement in the company's efficiency in utilizing its working capital to generate revenue over this period.

Subsequently, the ratio fluctuated between 0.27 and 0.34 in the following quarters, suggesting some variability in the company's working capital management. Notably, a ratio of 0.57 in June 2021 and a peak of 0.73 in March 2022 demonstrate a notable increase in efficiency.

Overall, the trend indicates that Xencor Inc has shown variability in its working capital turnover, with some quarters showcasing significant improvements while others experiencing fluctuations. It is essential for the company to continue monitoring and managing its working capital effectively to sustain and improve its operational efficiency and financial performance.