AeroVironment Inc (AVAV)
Activity ratios
Short-term
Turnover ratios
| Apr 30, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | Apr 30, 2020 | Jul 27, 2019 | Apr 30, 2019 | Oct 27, 2018 | Jul 28, 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.78 | 4.83 | 4.11 | 4.13 | 5.14 | 3.57 | 3.90 | 4.30 | 4.72 | 4.70 | 4.58 | 3.72 | 4.31 | 4.80 | 5.99 | 5.83 | 3.76 | 3.88 | 3.84 | 4.15 |
| Receivables turnover | 2.65 | 3.36 | 2.95 | 3.13 | 2.79 | 2.89 | 3.47 | 3.41 | 2.94 | 2.88 | 3.00 | 3.21 | 3.36 | 3.97 | — | 2.56 | 3.59 | 4.20 | 4.02 | 4.29 |
| Payables turnover | 11.74 | 28.90 | 25.89 | 25.12 | 22.74 | 17.02 | 16.26 | 19.32 | 22.23 | 27.87 | 17.49 | 17.50 | 12.42 | 17.48 | 23.23 | 13.36 | 18.48 | 13.14 | 12.53 | 13.56 |
| Working capital turnover | 1.93 | 1.79 | 1.57 | 1.56 | 1.52 | 1.81 | 1.82 | 1.84 | 1.81 | 1.79 | 1.80 | 1.63 | 1.48 | 0.89 | 0.90 | 0.88 | 0.79 | 0.84 | 0.84 | 0.85 |
AeroVironment Inc's activity ratios provide insights into the efficiency of the company's operations.
1. Inventory Turnover: This ratio indicates how efficiently the company is managing its inventory. AeroVironment's inventory turnover has been relatively stable over the analyzed periods, ranging from 3.57 to 5.14 times. A higher turnover ratio suggests that the company is effectively selling its inventory and restocking it quickly.
2. Receivables Turnover: This ratio reflects how well the company is managing its accounts receivable. AeroVironment's receivables turnover has varied over time, from 2.56 to 4.29 times. A higher turnover ratio indicates that the company is collecting its receivables efficiently.
3. Payables Turnover: The payables turnover ratio shows how quickly the company is paying its suppliers. AeroVironment's payables turnover has fluctuated significantly, ranging from 11.74 to 28.90 times. A higher turnover ratio suggests that the company is managing its payables well and may have good relationships with its suppliers.
4. Working Capital Turnover: This ratio evaluates how efficiently the company is utilizing its working capital to generate sales. AeroVironment's working capital turnover has shown some variability, ranging from 0.79 to 1.93 times. A higher turnover ratio indicates that the company is effectively using its working capital to support its operations.
Overall, AeroVironment Inc's activity ratios suggest that the company has been managing its inventory, receivables, payables, and working capital efficiently, albeit with some fluctuations. Analyzing these ratios over time provides valuable insights into the company's operational performance and efficiency.
Average number of days
| Apr 30, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | Apr 30, 2020 | Jul 27, 2019 | Apr 30, 2019 | Oct 27, 2018 | Jul 28, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 96.68 | 75.57 | 88.87 | 88.43 | 71.06 | 102.24 | 93.64 | 84.89 | 77.34 | 77.64 | 79.76 | 98.06 | 84.75 | 76.02 | 60.93 | 62.65 | 97.17 | 94.03 | 94.93 | 87.87 |
| Days of sales outstanding (DSO) | days | 137.64 | 108.70 | 123.82 | 116.66 | 130.79 | 126.08 | 105.29 | 107.11 | 124.02 | 126.76 | 121.66 | 113.87 | 108.59 | 91.90 | — | 142.46 | 101.55 | 86.98 | 90.72 | 85.13 |
| Number of days of payables | days | 31.09 | 12.63 | 14.10 | 14.53 | 16.05 | 21.45 | 22.44 | 18.89 | 16.42 | 13.10 | 20.87 | 20.86 | 29.39 | 20.88 | 15.71 | 27.32 | 19.75 | 27.78 | 29.14 | 26.91 |
Days of Inventory on Hand (DOH) measures how many days it takes for a company to turn its inventory into sales. AeroVironment Inc's DOH has shown significant fluctuations over the periods, ranging from a low of 60.93 days to a high of 102.24 days. Generally, a lower DOH is favorable as it indicates efficient inventory management, while a higher DOH suggests excess inventory or slow sales.
Days of Sales Outstanding (DSO) reflects the average number of days it takes for a company to collect payment from its customers. AeroVironment Inc's DSO has varied widely, with values ranging from a low of 86.98 days to a high of 142.46 days. A lower DSO is preferable as it signifies faster cash collection and effective credit management.
Number of Days of Payables indicates the average number of days it takes for a company to pay its suppliers. AeroVironment Inc's payables periods have shown fluctuations as well, with the range spanning from 12.63 days to 31.09 days. A longer payables period can indicate that the company is effectively using trade credit to manage cash flow but might strain supplier relationships if too extended.
Overall, examining these activity ratios helps in understanding AeroVironment Inc's efficiency in managing its inventory, collecting payments from customers, and handling payables to suppliers over the various periods.
Long-term
| Apr 30, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | Apr 30, 2020 | Jul 27, 2019 | Apr 30, 2019 | Oct 27, 2018 | Jul 28, 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 15.35 | 15.64 | 14.91 | 14.67 | 13.55 | 10.93 | 8.80 | 7.79 | 7.79 | 7.32 | 6.92 | 6.42 | 7.66 | 17.59 | 17.35 | 17.66 | 18.36 | 21.08 | 15.79 | 16.33 |
| Total asset turnover | 0.70 | 0.72 | 0.65 | 0.71 | 0.65 | 0.54 | 0.52 | 0.54 | 0.53 | 0.53 | 0.51 | 0.47 | 0.49 | 0.68 | 0.69 | 0.65 | 0.61 | 0.70 | 0.66 | 0.66 |
AeroVironment Inc's fixed asset turnover ratio has shown a fluctuating trend over the periods analyzed, ranging from 6.42 to 17.66. This ratio indicates that the company generates between 6.42 and 17.66 in sales revenue for every dollar invested in fixed assets. The higher values in recent periods suggest an improvement in the efficiency of utilizing fixed assets to generate sales.
On the other hand, the total asset turnover ratio has also exhibited variability, ranging from 0.47 to 0.72. This ratio reflects AeroVironment's ability to generate sales from its total assets. The increase in total asset turnover ratio in recent periods indicates a more effective utilization of all assets, including fixed and current assets, to generate sales.
Overall, the varying trends in both fixed asset turnover and total asset turnover ratios suggest improvements in the company's asset utilization efficiency over time. However, further analysis and comparison with industry benchmarks would provide a clearer understanding of AeroVironment's long-term activity performance.