Ameren Corp (AEE)
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 | 3.12 | 2.81 | 2.99 | 3.39 | 3.24 | 2.99 | 3.45 | 3.95 | 3.39 | 3.19 | 3.56 | 4.01 | 3.62 | 2.08 | 3.04 | 4.06 | 4.66 | 4.85 | 5.59 | 6.25 |
| Receivables turnover | 8.16 | 7.76 | 8.86 | 8.26 | 7.23 | 6.82 | 6.96 | 7.21 | 7.80 | 6.45 | 7.13 | 8.05 | 7.74 | 7.10 | 6.57 | 7.90 | 8.05 | 7.43 | 6.92 | 7.55 |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Ameren Corp.'s activity ratios provide insights into how effectively the company is managing its assets and liabilities to drive revenue generation and cash flow.
1. Inventory Turnover:
- Ameren's inventory turnover has fluctuated over the quarters, ranging from 2.96 to 4.52.
- A higher inventory turnover indicates that the company is selling its inventory quickly, which is generally positive as it reduces the risk of obsolete inventory.
- The increasing trend in inventory turnover from Q4 2022 to Q1 2023 suggests improved efficiency in managing inventory levels.
2. Receivables Turnover:
- Ameren's receivables turnover has also varied, with values between 6.82 to 8.86.
- A higher receivables turnover indicates that the company is collecting its receivables faster, which improves its cash flow.
- The increasing trend in receivables turnover from Q4 2022 to Q1 2023 suggests that Ameren has been more efficient in collecting payments from customers.
3. Payables Turnover:
- Payables turnover data is unavailable for analysis in the provided table. Payables turnover is essential to assess how quickly the company pays its suppliers and manages its working capital efficiently.
4. Working Capital Turnover:
- The data for working capital turnover is not available for analysis in the provided table. Working capital turnover ratio indicates how effectively the company is utilizing its working capital to generate sales.
Overall, Ameren Corp.'s inventory turnover and receivables turnover ratios show positive trends in managing inventory and collecting receivables efficiently. Analysis of payables turnover and working capital turnover ratios would provide a more comprehensive understanding of the company's efficiency in managing its operating cycle.
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 | 116.99 | 130.05 | 122.01 | 107.65 | 112.61 | 122.14 | 105.90 | 92.32 | 107.56 | 114.42 | 102.48 | 91.06 | 100.88 | 175.57 | 120.11 | 89.91 | 78.29 | 75.32 | 65.25 | 58.43 |
| Days of sales outstanding (DSO) | days | 44.72 | 47.05 | 41.22 | 44.21 | 50.46 | 53.51 | 52.43 | 50.61 | 46.81 | 56.61 | 51.21 | 45.32 | 47.18 | 51.41 | 55.57 | 46.18 | 45.33 | 49.14 | 52.73 | 48.32 |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Ameren Corp.'s activity ratios provide insight into how effectively the company is managing its resources. The Days of Inventory on Hand (DOH) ratio has shown an increasing trend from 80.77 days in Q1 2023 to 123.46 days in Q4 2023, indicating that inventory is being held for a longer period before being sold.
On the other hand, the Days of Sales Outstanding (DSO) ratio has fluctuated over the quarters, with values ranging from 41.22 days in Q2 2023 to 53.51 days in Q3 2022. This metric measures the average number of days it takes for the company to collect revenue from its sales, suggesting variability in the efficiency of the company's credit policies and collection efforts.
Unfortunately, the data for the Number of Days of Payables is missing, preventing a comprehensive analysis of the company's overall working capital management and the efficiency of its payment processes with suppliers. It's important to note that a thorough assessment of all three activity ratios together would provide a more holistic view of Ameren Corp.'s operational efficiency and effectiveness in managing its working capital.
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 | 0.22 | 0.24 | 0.25 | 0.26 | 0.25 | 0.24 | 0.23 | 0.23 | 0.22 | 0.22 | 0.21 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 |
| Total asset turnover | 0.18 | 0.20 | 0.21 | 0.21 | 0.21 | 0.20 | 0.19 | 0.19 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.19 | 0.20 | 0.20 | 0.21 | 0.22 | 0.23 |
Ameren Corp.'s long-term activity ratios provide insight into the efficiency with which the company utilizes its fixed assets and total assets to generate sales.
The fixed asset turnover ratio has been relatively consistent over the past eight quarters, ranging from 0.22 to 0.26. This indicates that, on average, Ameren is generating $0.22 to $0.26 in revenue for every dollar of fixed assets it owns. The slight decrease in Q4 2023 compared to the previous quarter may suggest a decrease in efficiency in utilizing fixed assets to generate sales.
Similarly, the total asset turnover ratio has also shown consistency, ranging from 0.18 to 0.21 over the same period. This ratio indicates that Ameren is generating $0.18 to $0.21 in revenue for every dollar of total assets it possesses. The stability of this ratio suggests that Ameren's overall asset utilization efficiency has remained relatively steady.
Overall, Ameren Corp. may benefit from further analysis to understand the underlying reasons for any fluctuations in these long-term activity ratios and to identify potential opportunities for improvement in asset utilization efficiency.