The Andersons Inc (ANDE)
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 | 12.00 | 15.75 | 16.24 | 10.65 | 9.61 | 10.10 | 8.99 | 6.87 | 6.62 | 10.63 | 10.75 | 6.53 | 5.94 | 9.42 | 11.56 | 7.33 | 6.54 | 8.94 | 7.14 | 3.93 |
| Receivables turnover | 19.34 | 19.85 | 16.30 | 15.17 | 13.74 | 16.39 | 13.13 | 13.09 | 14.92 | 15.14 | 13.94 | 12.43 | 12.12 | 13.86 | 13.85 | 14.66 | 14.94 | 12.99 | 7.93 | 6.95 |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 12.60 | 14.48 | 14.68 | 18.36 | 18.34 | 17.39 | 15.28 | 15.94 | 13.88 | 14.62 | 18.80 | 17.05 | 16.64 | 16.77 | 15.99 | 18.35 | 16.17 | 16.77 | 12.50 | 9.96 |
The inventory turnover ratio for Andersons Inc. has shown a fluctuating trend over the last eight quarters, ranging from a low of 9.61 in Q4 2022 to a high of 16.24 in Q2 2023. This ratio indicates that the company is managing its inventory efficiently, with a higher turnover generally implying better inventory management.
The receivables turnover ratio has also varied over the same period, showing a peak of 19.85 in Q3 2023 and a low of 13.29 in Q1 2022. This suggests that the company is collecting its receivables at a relatively stable rate over time, with higher ratios indicating a more efficient collection process.
Unfortunately, the payables turnover data is not available in the provided table, making it impossible to analyze how quickly the company is paying its suppliers.
The working capital turnover ratio has been relatively stable for Andersons Inc., with values ranging from 15.20 in Q2 2022 to 18.36 in Q1 2023. This ratio reflects how effectively the company is utilizing its working capital to generate sales, with higher values indicating a more efficient use of resources.
Overall, based on the activity ratios provided, Andersons Inc. appears to have efficient inventory management, a stable receivables collection process, and consistent utilization of working capital to generate sales.
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 | 30.41 | 23.18 | 22.47 | 34.28 | 37.98 | 36.13 | 40.61 | 53.14 | 55.10 | 34.35 | 33.95 | 55.91 | 61.47 | 38.75 | 31.59 | 49.78 | 55.83 | 40.84 | 51.11 | 92.77 |
| Days of sales outstanding (DSO) | days | 18.87 | 18.38 | 22.39 | 24.05 | 26.57 | 22.27 | 27.81 | 27.87 | 24.46 | 24.11 | 26.18 | 29.37 | 30.12 | 26.33 | 26.35 | 24.89 | 24.44 | 28.11 | 46.05 | 52.54 |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Andersons Inc.'s Days of Inventory on Hand (DOH) fluctuated over the past eight quarters ranging from a lowest of 22.47 days in Q2 2023 to a peak of 40.78 days in Q2 2022. Generally, a lower DOH indicates better inventory management efficiency, while a higher DOH could suggest slower inventory turnover or excess inventory.
In terms of Days of Sales Outstanding (DSO), Andersons Inc.'s performance has been relatively stable, with figures ranging from 18.38 days in Q3 2023 to 27.53 days in Q2 2022. Lower DSO signifies a shorter time taken to collect payments from customers, indicating strong accounts receivable management.
There is no available data on the number of days of payables, thus hindering a complete analysis of Andersons Inc.'s activity ratios, particularly the Cash Conversion Cycle. Nevertheless, based on the provided information, it appears that the company has been effective in managing its inventory and accounts receivable levels over the past eight quarters.
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 | 21.27 | 23.84 | 25.32 | 25.38 | 22.71 | 21.45 | 19.92 | 18.12 | 16.05 | 14.21 | 12.41 | 10.53 | 9.37 | 8.55 | 8.32 | 8.69 | 8.71 | 10.09 | 8.34 | 6.53 |
| Total asset turnover | 3.83 | 4.52 | 4.71 | 4.20 | 3.76 | 3.72 | 3.21 | 2.72 | 2.76 | 3.06 | 2.53 | 2.07 | 1.89 | 2.18 | 2.28 | 2.13 | 2.09 | 2.16 | 1.62 | 1.20 |
Andersons Inc.'s long-term activity ratios indicate the efficiency with which the company is utilizing its fixed and total assets to generate sales revenue. The fixed asset turnover ratio has been steadily increasing over the quarters, reaching 25.38 in Q1 2023 from 18.07 in Q1 2022. This indicates that the company is generating more revenue from its fixed assets each quarter.
Similarly, the total asset turnover ratio has also shown a positive trend, increasing from 2.71 in Q1 2022 to 4.20 in Q1 2023. This suggests that Andersons Inc. is efficiently using its total assets to generate sales, reflecting improved productivity and asset management.
Overall, the increasing trend in both fixed asset turnover and total asset turnover ratios demonstrates that Andersons Inc. is effectively managing its assets to drive sales growth and enhance operational efficiency over the quarters. It indicates a positive outlook for the company's long-term performance and asset utilization.