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2001 Working Capital Survey - Chart 24

MEDICAL PRODUCTS

1Jul


Behind the Rankings


The management of working capital combines two measures, weighted equally:
1. Days of Working Capital (DWC) = (Receivables + Inventory ­ Payables) ÷ (Sales ÷ 365 Days). If payables exceed the sum of receivables and inventory, DWC is negative.
2. Cash Conversion Efficiency (CCE) = Cash Flow from Operations ÷ Sales.

The overall ranking: (Highest Overall CCE ­ Company CCE) ÷ (Highest Overall CCE ­ Lowest Overall CCE) + (Lowest Overall DWC ­ Company DWC) ÷ (Lowest Overall DWC ­ Highest Overall DWC). Days of Sales Outstanding (DSO), Inventory Turns, and Days of Payables Outstanding (DPO) are not part of the overall ranking criteria. Industry averages consider all companies in an industry, not just the top five.

Sources: REL Consultancy Group, Piranha Web




Back to "Forget the Float? — The 2001 Working Capital Survey"

MEDICAL PRODUCTS
Over- all RankCompany NamePrev. Year SalesCash Conver. Effic.Days Working CapitalDays Sales Outst.Inven. TurnsDays Payable Outst.
CCERk.DWCRk.DSORk.Ts.Rk.DPORank
134ABBOTT LABORA- TORIES$13,74623%646760657633478234362
143EDWARDS LIFE- SCIENCES CORP$80419%119474255864147796757
151BAXTER INTER- NATIONAL INC$6,89617%154383218489438581137
306BOSTON SCIENTIFIC CORP$2,66422%6910988265740295513933
403WATERS CORP NEW$70420%10011288982883388822710
408GUIDANT CORP$2,54919%12210686781878293111960
439ALLERGAN INC$1,45213%2497970362708386222708
442FISHER SCIENTIFIC INTER- NATIONAL INC$2,6225%7082925039361837342211
479SMITH & NEPHEW PLC$1,80512%289776929594129689810
520HILLEN- BRAND INDUSTRIES INC$2,09611%31379704728211127513934
536DENTSPLY INTER- NATIONAL INC DE$89014%2189883558636387519820
575MEDTRONIC INC$5,01517%14512191487910296614922
585OWENS & MINOR INC NEW$3,5042%8623126326213932730444
590PATTERSON DENTAL CO$1,0406%6585650248491649728505
649C R BARD INC$1,09915%20011990669792390419815
654POLYMER GROUP INC$8908%4887970958653558431411
682APOGENT TECH- NOLOGIES INC$1,10315%19212592677854391320782
704BECTON DICKINSON & CO$3,61815%19912793183887390022712
743ST JUDE MEDICAL INC$1,17917%15614695597944298330450
744INVACARE CORP$1,0137%5539079575838649625596
792OMNICARE INC$1,9716%64388783848971029421746
814HENRY SCHEIN INC$2,3823%8017567661689654432384
839PSS WORLD MEDICAL INC$1,7941%9246861159666841627550
857BAUSCH & LOMB INC$1,77214%23914795799948392318829
911STRYKER CORP$2,28914%22716697987912297829466
913BIOMET INC$92117%15718498698947199311955
919STERIS CORP$7616%620127930103956470522713
950BECKMAN COULTER INC$1,8878%541154966111971386421747
603Industry Average$2,44512% 98 74 4 30 



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