Axcelis Technologies Inc (ACLS)

Activity ratios

Short-term

Turnover ratios

	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
Inventory turnover	2.09	2.00	1.96	2.12	2.14	2.11	2.12	2.03	1.93	1.67	1.51	1.60	1.71	1.69	1.65	1.60	1.42	1.43	1.58	1.80
Receivables turnover	5.19	5.65	6.43	5.12	5.42	4.94	5.52	6.16	6.34	7.40	6.44	6.43	5.46	10.19	6.46	5.77	4.09	6.95	5.89	5.81
Payables turnover	11.75	10.38	9.70	9.17	8.31	8.85	9.15	8.15	9.89	9.27	7.15	6.89	11.49	11.14	8.15	8.37	7.85	9.26	9.83	8.16
Working capital turnover	1.42	1.44	1.46	1.46	1.46	1.52	1.53	1.46	1.41	1.34	1.26	1.23	1.23	1.26	1.26	1.17	1.12	1.17	1.25	1.31

Axcelis Technologies Inc's activity ratios depict the efficiency of the company in managing its resources.

Inventory turnover has been relatively stable around 2 times for the past few quarters, indicating that the company is efficient in managing its inventory levels and turning over its inventory into sales.

Receivables turnover has shown some variability but generally remains at a moderate level, indicating that the company efficiently collects its accounts receivable. A higher turnover ratio signifies that the company is collecting its receivables more frequently, which is a positive sign of liquidity.

Payables turnover has been consistently increasing, suggesting that the company is taking longer to pay its suppliers. This might indicate improved bargaining power or a delay in cash outflows.

Working capital turnover has been relatively stable, hovering around 1.5 times in recent quarters. This ratio indicates how efficiently the company is using its working capital to generate sales revenue. A higher turnover indicates more efficient use of working capital.

Overall, the activity ratios suggest that Axcelis Technologies Inc is managing its resources effectively and efficiently, with steady inventory turnover, moderate receivables turnover, increasing payables turnover, and consistent working capital turnover.

Average number of days

		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
Days of inventory on hand (DOH)	days	174.98	182.79	186.55	172.53	170.74	173.00	171.97	179.94	189.29	218.34	241.17	228.24	213.04	215.71	220.64	227.53	257.70	255.67	230.39	202.28
Days of sales outstanding (DSO)	days	70.37	64.62	56.79	71.31	67.36	73.84	66.08	59.23	57.53	49.34	56.63	56.75	66.81	35.83	56.53	63.29	89.14	52.51	61.97	62.87
Number of days of payables	days	31.06	35.16	37.64	39.81	43.91	41.26	39.88	44.81	36.91	39.38	51.03	52.98	31.76	32.78	44.77	43.63	46.53	39.40	37.11	44.73

Days of Inventory on Hand (DOH) measures how long it takes for a company to sell its inventory. A higher DOH indicates that a company is holding onto inventory for a longer period. In the case of Axcelis Technologies Inc, the trend has been fluctuating over the past eight quarters, ranging from 170.74 days to 186.55 days. Overall, the company seems to be maintaining relatively high levels of inventory in recent quarters.

Days of Sales Outstanding (DSO) measures how long it takes for a company to collect its accounts receivable. A lower DSO is generally preferable as it signifies faster collections. Axcelis Technologies Inc has shown fluctuations in DSO over the quarters, varying from 56.79 days to 73.84 days. The company has seen improvements in DSO in Q2 and Q3 2023, but Q1 and Q4 2023 showed a slight increase.

Number of Days of Payables measures how long it takes for a company to pay its suppliers. A longer payable period can indicate that the company is taking longer to settle its payables. Axcelis Technologies Inc has shown a decreasing trend in the number of days of payables over the past eight quarters, ranging from 31.06 days to 44.81 days. This trend suggests that the company has been paying its suppliers more promptly in recent quarters.

In summary, Axcelis Technologies Inc has shown fluctuations in its activity ratios over the past two years. The company has been holding higher levels of inventory, collecting accounts receivable at varying speeds, and improving its payment terms with suppliers. Monitoring these activity ratios can provide insights into the efficiency of Axcelis Technologies Inc's operations and working capital management.

Long-term

	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
Fixed asset turnover	20.95	23.03	23.71	23.69	23.19	22.17	22.69	20.65	18.94	17.59	16.71	16.03	15.90	15.76	14.97	14.05	13.54	13.57	15.08	20.97
Total asset turnover	0.88	0.90	0.91	0.90	0.91	0.95	0.99	0.94	0.88	0.81	0.78	0.78	0.76	0.78	0.71	0.66	0.63	0.64	0.71	0.76

The fixed asset turnover ratio for Axcelis Technologies Inc has remained relatively stable over the past eight quarters, ranging between 20.65 and 23.71. This indicates that the company is generating consistently high levels of revenue relative to its investment in fixed assets. The high fixed asset turnover suggests that Axcelis is efficiently utilizing its fixed assets to generate sales.

On the other hand, the total asset turnover ratio has shown more variability, fluctuating between 0.88 and 0.99 over the same period. This indicates that Axcelis is generating revenue at a lower rate relative to its total assets compared to its fixed assets. However, the total asset turnover ratio is still within a reasonable range, suggesting that the company is effectively using its total assets to generate sales.

Overall, both the fixed asset turnover and total asset turnover ratios suggest that Axcelis Technologies Inc is effectively managing its assets to generate revenue, with a particularly strong performance in utilizing its fixed assets efficiently.