Dentsply Sirona Inc (XRAY)
Working capital turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,887,000 | 3,905,000 | 3,909,000 | 3,910,000 | 3,908,000 | 4,001,000 | 4,094,000 | 4,137,000 | 4,206,000 | 4,182,500 | 4,036,800 | 3,464,100 | 3,305,500 | 3,337,500 | 3,412,700 | 3,935,800 | 4,015,000 | 3,963,200 | 3,926,400 | 3,957,500 |
| Total current assets | US$ in thousands | 1,973,000 | 1,913,000 | 1,920,000 | 1,943,000 | 1,893,000 | 1,939,000 | 1,885,000 | 1,897,000 | 1,852,000 | 1,805,000 | 1,785,000 | 1,696,000 | 1,798,000 | 2,579,600 | 2,362,900 | 1,805,200 | 2,000,000 | 1,811,300 | 1,828,300 | 1,795,600 |
| Total current liabilities | US$ in thousands | 1,425,000 | 1,218,000 | 1,271,000 | 1,374,000 | 1,170,000 | 1,296,000 | 1,241,000 | 1,372,000 | 1,261,000 | 1,199,000 | 1,251,000 | 1,212,000 | 1,372,000 | 1,178,200 | 763,000 | 891,500 | 995,000 | 868,900 | 880,800 | 870,600 |
| Working capital turnover | 7.09 | 5.62 | 6.02 | 6.87 | 5.41 | 6.22 | 6.36 | 7.88 | 7.12 | 6.90 | 7.56 | 7.16 | 7.76 | 2.38 | 2.13 | 4.31 | 4.00 | 4.21 | 4.14 | 4.28 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,887,000K ÷ ($1,973,000K – $1,425,000K)
= 7.09
The working capital turnover of DENTSPLY Sirona Inc has fluctuated over the past eight quarters, ranging from a low of 5.42 in Q4 2022 to a high of 7.95 in Q1 2022. This ratio indicates the efficiency with which the company is utilizing its working capital to generate sales revenue. A higher turnover ratio suggests that the company is effectively managing its working capital to support its operations and sales activity.
The average working capital turnover over the period is approximately 6.60, indicating that, on average, DENTSPLY Sirona Inc is generating sales revenue 6.60 times for each dollar of working capital invested. This implies that the company is efficiently utilizing its current assets and liabilities to support its revenue-generating activities.
It is worth noting the significant increase in working capital turnover from Q4 2022 to Q1 2022, indicating a notable improvement in efficiency during that period. However, the subsequent fluctuations in the ratio suggest some variability in the company's management of working capital efficiency over the analyzed period.
Overall, the working capital turnover analysis suggests that DENTSPLY Sirona Inc has generally been effective in converting its working capital into sales revenue, with some fluctuations in efficiency observed throughout the quarters under review.
Peer comparison
Dec 31, 2023