Azenta Inc (AZTA)
Activity ratios
Short-term
Turnover ratios
Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
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Inventory turnover | 7.76 | 7.76 | 7.26 | 6.02 | 6.16 | 5.26 | 4.64 | 4.58 | 6.97 | 3.70 | 5.26 | 7.08 | 9.41 | 5.93 | 6.70 | 6.53 | 21.35 | 6.53 | 7.00 | 6.98 |
Receivables turnover | 3.77 | 3.95 | 4.25 | 4.14 | 4.28 | 3.88 | 3.56 | 2.95 | 3.39 | 3.65 | 5.30 | 6.88 | 8.15 | 4.05 | 3.79 | 4.05 | 4.00 | 6.80 | 6.86 | 7.16 |
Payables turnover | 20.13 | 22.86 | 23.80 | 19.03 | 22.07 | 19.67 | 15.44 | 12.09 | 15.42 | 8.69 | 11.39 | 10.60 | 13.42 | 9.34 | 11.03 | 11.93 | 30.85 | 10.92 | 11.79 | 11.24 |
Working capital turnover | 1.04 | 0.87 | 0.67 | 0.56 | 0.55 | 0.48 | 0.44 | 0.43 | 0.25 | 0.23 | 0.30 | 1.91 | 2.26 | 2.34 | 1.86 | 1.77 | 1.72 | 3.15 | 3.27 | 3.11 |
Azenta Inc's activity ratios provide insights into how efficiently the company is managing its assets and operations.
1. Inventory turnover: Azenta Inc's inventory turnover ratio has been relatively stable around 6 to 8 times per year. This implies that the company has been able to sell and replace its inventory multiple times throughout the year, indicating effective inventory management.
2. Receivables turnover: The receivables turnover ratio has also remained consistent, fluctuating between 3.5 to 6 times per year. This suggests that Azenta Inc is efficient in collecting payments from its customers, with a higher turnover indicating faster collection of accounts receivable.
3. Payables turnover: Azenta Inc's payables turnover ratio has shown some variability but generally hovers around 15 to 25 times per year. A higher turnover indicates that the company is paying its suppliers more frequently, which may indicate good relationships with suppliers but could also signal potential cash flow concerns.
4. Working capital turnover: The working capital turnover ratio has fluctuated significantly, ranging from 0.2 to 3 times per year. A higher turnover ratio typically indicates that the company is efficiently using its working capital to generate sales, but large fluctuations may warrant further investigation into the company's overall liquidity and financial health.
Overall, while Azenta Inc's activity ratios generally show efficient asset management and operations, analyzing these ratios in conjunction with other financial metrics would provide a more comprehensive understanding of the company's performance and sustainability.
Average number of days
Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
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Days of inventory on hand (DOH) | days | 47.03 | 47.04 | 50.27 | 60.63 | 59.23 | 69.41 | 78.64 | 79.70 | 52.39 | 98.64 | 69.45 | 51.54 | 38.77 | 61.60 | 54.48 | 55.92 | 17.10 | 55.93 | 52.15 | 52.31 |
Days of sales outstanding (DSO) | days | 96.81 | 92.36 | 85.93 | 88.13 | 85.28 | 94.00 | 102.42 | 123.89 | 107.80 | 99.87 | 68.81 | 53.04 | 44.77 | 90.06 | 96.30 | 90.23 | 91.26 | 53.65 | 53.22 | 50.98 |
Number of days of payables | days | 18.13 | 15.96 | 15.33 | 19.18 | 16.54 | 18.56 | 23.64 | 30.18 | 23.67 | 41.99 | 32.04 | 34.44 | 27.19 | 39.09 | 33.09 | 30.60 | 11.83 | 33.43 | 30.97 | 32.48 |
Azenta Inc's Days of Inventory on Hand (DOH) have shown some fluctuations over the period analyzed. The company's efficiency in managing its inventory improved from December 2021 to March 2023, as the DOH decreased steadily. However, there was an increase in DOH from March 2023 to December 2023, indicating a possible buildup in inventory levels. Subsequently, there was a gradual decrease in DOH from December 2023 to September 2024, suggesting better inventory management in recent quarters.
In terms of Days of Sales Outstanding (DSO), Azenta Inc's collection period has also exhibited variability. There was a decreasing trend in DSO from December 2021 to June 2022, reflecting improvement in the company's accounts receivable collection efficiency. However, there was a significant spike in DSO from June 2022 to December 2022, indicating potential challenges in collecting receivables. The DSO decreased notably from December 2022 to March 2023 but has been fluctuating since then, suggesting some inconsistency in receivables management.
Regarding the Number of Days of Payables, Azenta Inc has experienced fluctuations in its payment period to suppliers. The company shortened its payment period from December 2021 to March 2023, possibly taking advantage of better payment terms or cash flow management. However, there was an increase in the number of days of payables from March 2023 to September 2024, indicating a potential shift towards paying suppliers at a slower pace.
Overall, the analysis of Azenta Inc's activity ratios suggests that the company has made efforts to improve its inventory management and accounts receivable collection in recent periods, but there are fluctuations in these metrics that may require closer monitoring to ensure optimal working capital management.
Long-term
Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
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Fixed asset turnover | 3.24 | 3.38 | 3.27 | 3.07 | 3.29 | 3.03 | 2.80 | 2.75 | 3.59 | 3.55 | 4.85 | 5.89 | 7.49 | 6.49 | 6.47 | 6.30 | 8.61 | 11.35 | 11.29 | 11.23 |
Total asset turnover | 0.31 | 0.29 | 0.26 | 0.23 | 0.23 | 0.21 | 0.18 | 0.18 | 0.15 | 0.15 | 0.18 | 0.47 | 0.54 | 0.54 | 0.51 | 0.49 | 0.48 | 0.83 | 0.83 | 0.76 |
Azenta Inc's fixed asset turnover ratio has shown variability over the past few quarters, ranging from a low of 2.75 to a high of 7.49. This ratio measures the company's ability to generate revenue from its investments in fixed assets, such as property, plant, and equipment. A higher fixed asset turnover ratio indicates that Azenta is more efficient in utilizing its fixed assets to generate sales.
On the other hand, Azenta's total asset turnover ratio has also displayed fluctuations, with values ranging from 0.15 to 0.83. This ratio reflects the company's efficiency in generating sales revenue from all its assets, including both fixed and current assets. A higher total asset turnover ratio suggests that Azenta is effectively utilizing all its assets to generate sales.
Overall, it appears that Azenta's fixed asset turnover ratio has been more volatile compared to its total asset turnover ratio. However, both ratios indicate the company's ability to efficiently generate sales revenue relative to its investment in assets. It is essential for Azenta to monitor these ratios consistently to ensure optimal utilization of its assets for revenue generation.