Artivion Inc (AORT)
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 | 4.26 | 4.24 | 4.08 | 3.92 | 3.24 | 2.72 | 2.02 | 1.37 | 1.32 | 1.23 | 1.23 | 1.18 | 1.17 | 1.23 | 1.37 | 1.70 | 1.76 | 1.91 | 2.02 | 2.05 |
| Receivables turnover | 4.47 | 4.57 | 4.38 | 4.44 | 4.26 | 4.69 | 4.65 | 5.12 | 5.14 | 5.21 | 5.26 | 5.08 | 5.19 | 5.16 | 5.34 | 5.32 | 4.94 | 5.00 | 4.39 | 4.94 |
| Payables turnover | 26.25 | 30.86 | 30.64 | 31.54 | 20.11 | 18.53 | 14.24 | 11.33 | 9.75 | 10.14 | 8.74 | 9.66 | 8.88 | 8.20 | 8.53 | 8.82 | 9.52 | 12.43 | 13.24 | 16.66 |
| Working capital turnover | 1.49 | 1.47 | 1.46 | 1.51 | 1.50 | 1.59 | 1.53 | 1.51 | 1.47 | 1.46 | 1.56 | 1.45 | 1.45 | 1.42 | 1.08 | 1.61 | 1.94 | 1.97 | 1.79 | 1.89 |
Artivion Inc's activity ratios provide insights into how efficiently the company manages its resources and operations.
1. Inventory Turnover: Artivion Inc's inventory turnover ratio has been relatively stable, ranging between 1.44 and 1.53 over the past eight quarters. This suggests the company is effectively managing its inventory levels and turning over its inventory at a consistent pace.
2. Receivables Turnover: The receivables turnover ratio indicates how quickly Artivion Inc collects payments from its customers. The company's ratio has fluctuated between 4.51 and 5.12 in the last two years. A higher ratio signifies faster collection of receivables, which can improve cash flow.
3. Payables Turnover: Artivion Inc's payables turnover ratio has varied between 9.27 and 12.06 over the specified period. A higher ratio indicates that the company is paying its suppliers more quickly, potentially improving relationships with vendors.
4. Working Capital Turnover: The working capital turnover ratio reflects how efficiently Artivion Inc is utilizing its working capital to generate revenue. The company's ratio has ranged from 1.51 to 1.63, indicating relatively stable efficiency in utilizing working capital resources to support its operations.
Overall, the consistent performance of Artivion Inc's activity ratios suggests that the company is effectively managing its inventory, receivables, payables, and working capital to support its operations and financial health.
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 | 85.60 | 86.13 | 89.41 | 93.19 | 112.63 | 134.21 | 180.70 | 266.01 | 277.28 | 295.90 | 295.92 | 309.85 | 312.01 | 297.03 | 266.32 | 214.88 | 207.82 | 190.64 | 180.41 | 178.22 |
| Days of sales outstanding (DSO) | days | 81.74 | 79.78 | 83.40 | 82.12 | 85.63 | 77.82 | 78.42 | 71.30 | 70.97 | 70.09 | 69.39 | 71.81 | 70.27 | 70.75 | 68.33 | 68.55 | 73.81 | 73.01 | 83.14 | 73.86 |
| Number of days of payables | days | 13.91 | 11.83 | 11.91 | 11.57 | 18.15 | 19.70 | 25.64 | 32.22 | 37.45 | 36.00 | 41.75 | 37.80 | 41.11 | 44.51 | 42.81 | 41.37 | 38.36 | 29.36 | 27.57 | 21.91 |
Artivion Inc's activity ratios provide insights into the efficiency of its inventory management, accounts receivable collection, and accounts payable payment practices.
1. Days of Inventory on Hand (DOH): The company's inventory turnover has been relatively stable over the quarters, ranging from approximately 240 to 244 days. A high DOH indicates that Artivion is holding inventory for a long period before selling, tying up capital and potentially increasing the risk of obsolescence. The company may need to evaluate its inventory management practices to reduce holding periods and improve cash flow.
2. Days of Sales Outstanding (DSO): Artivion's DSO indicates how long it takes on average for the company to collect payments from its customers. The trend shows a slight fluctuation but remains within a reasonable range from 73 to 81 days. A lower DSO is favorable as it suggests efficient credit management and timely collection of receivables. Artivion may seek ways to shorten the DSO further to improve liquidity and reduce credit risk.
3. Number of Days of Payables: The number of days of payables reflects how long the company takes to pay its suppliers. Artivion's payment period has varied but generally hovers around 33 to 39 days. A longer payment period may indicate favorable working capital management, allowing the company to use suppliers' funds before settling obligations. However, it is important to maintain good relationships with suppliers by ensuring timely payments within agreed terms.
Overall, Artivion Inc should continue monitoring and fine-tuning its activity ratios to optimize working capital efficiency, enhance cash flow management, and strengthen relationships with both customers and suppliers.
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 | 9.56 | 8.34 | 7.90 | 7.66 | 7.67 | 8.41 | 8.41 | 8.14 | 7.96 | 7.77 | 7.70 | 8.19 | 7.66 | 8.02 | 8.18 | 8.63 | 8.59 | 9.01 | 8.79 | 8.87 |
| Total asset turnover | 0.42 | 0.40 | 0.39 | 0.39 | 0.39 | 0.41 | 0.40 | 0.39 | 0.38 | 0.35 | 0.35 | 0.32 | 0.32 | 0.33 | 0.37 | 0.44 | 0.46 | 0.46 | 0.45 | 0.46 |
Artivion Inc's long-term activity ratios indicate the efficiency of the company in managing its assets.
The fixed asset turnover ratio has been relatively stable, showing a consistent ability to generate revenue from its fixed assets over time. The ratio has ranged between 8.11 and 9.23, indicating that the company is effectively utilizing its fixed assets to generate sales.
On the other hand, the total asset turnover ratio shows a decreasing trend from 0.39 in Q1 2022 to 0.45 in Q4 2023. This suggests that the company's overall efficiency in generating sales from all its assets has improved over this period. The increase in total asset turnover indicates that Artivion Inc has been more efficient in utilizing both its fixed and current assets to generate revenue.
Overall, these ratios suggest that Artivion Inc is effectively managing its assets to generate sales, with a consistently high fixed asset turnover and an improving trend in total asset turnover. This indicates operational efficiency and effective asset utilization within the company.