Blackbaud Inc (BLKB)

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	—	2.77	1.31	2.73	1.40	2.77	2.03	3.11	1.38	2.11	1.40	2.06	0.70	2.09	1.01	1.83	0.77	1.67	1.13	1.79
Receivables turnover	10.49	10.19	6.11	10.28	10.01	11.66	6.58	10.33	8.89	8.59	7.52	10.85	9.57	9.38	7.05	10.18	10.13	9.74	6.64	9.48
Payables turnover	38.43	25.29	24.56	21.37	23.13	26.20	24.89	22.02	37.38	18.15	19.86	14.93	15.38	13.38	10.44	9.53	8.78	11.86	11.15	12.04
Working capital turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data, we can analyze Blackbaud Inc's activity ratios as follows:

1. Receivables Turnover:
Receivables turnover measures how efficiently a company is able to collect payments from its customers. Blackbaud Inc's receivables turnover has been fluctuating over the past eight quarters, ranging from a low of 6.01 in Q2 2023 to a high of 10.78 in Q3 2022. A higher turnover ratio indicates that the company is collecting payments more quickly, which is generally seen as a positive indicator of operational efficiency.

2. Payables Turnover:
Payables turnover measures how quickly a company pays its suppliers. Blackbaud Inc's payables turnover has also varied over the same period, with a range from 10.86 in Q1 2023 to 19.94 in Q4 2023. A higher payables turnover ratio suggests that the company is managing its accounts payable effectively by paying suppliers promptly, which can help improve cash flow and maintain good relationships with vendors.

3. Inventory Turnover:
Unfortunately, there is no data provided for inventory turnover in the table. Inventory turnover shows how efficiently a company manages its inventory and sells its products. A higher turnover ratio indicates that inventory is being sold quickly, minimizing holding costs and potential obsolescence.

4. Working Capital Turnover:
Similarly, there is no data available for working capital turnover in the table. Working capital turnover measures how effectively a company generates revenue from its working capital. A higher turnover ratio indicates that the company is utilizing its working capital efficiently to generate sales.

In conclusion, while the available data for Blackbaud Inc's activity ratios shows fluctuations over time, analyzing these ratios can provide insights into the company's efficiency in managing its accounts receivable, accounts payable, and inventory.

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	—	131.85	277.79	133.66	260.35	131.70	179.93	117.37	264.01	173.26	261.01	176.90	519.47	174.90	359.69	199.93	475.84	218.95	324.26	203.77
Days of sales outstanding (DSO)	days	34.79	35.83	59.74	35.50	36.46	31.31	55.44	35.32	41.07	42.49	48.54	33.64	38.13	38.90	51.75	35.84	36.02	37.46	54.94	38.49
Number of days of payables	days	9.50	14.43	14.86	17.08	15.78	13.93	14.67	16.58	9.76	20.11	18.38	24.45	23.74	27.29	34.98	38.32	41.59	30.78	32.73	30.32

The activity ratios of Blackbaud Inc provide insights into the efficiency of the company's operations and management of its working capital.

Days of Inventory on Hand (DOH) data is not available in the table for analysis.

Days of Sales Outstanding (DSO) decreased from 37.54 days in Q4 2022 to 35.60 days in Q4 2023, indicating that the company is collecting its accounts receivable more quickly. This could suggest effective credit management and timely collection practices.

Number of Days of Payables increased from 30.74 days in Q4 2022 to 33.62 days in Q1 2023, implying that the company is taking longer to pay its suppliers. This may indicate a strategy to manage cash flows by extending payment terms but could also potentially strain relationships with suppliers.

Overall, Blackbaud Inc's activity ratios reflect improvements in accounts receivable management but also suggest a trend towards delaying payments to suppliers. It would be important for the company to strike a balance between efficient collection of receivables and maintaining healthy supplier relationships to support sustainable operations.

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	10.83	10.41	9.86	9.79	9.58	9.23	8.78	8.42	8.19	8.80	8.55	8.60	8.68	8.30	25.03	25.47	25.33	23.70	22.04	22.20
Total asset turnover	0.37	0.40	0.33	0.39	0.34	0.38	0.35	0.36	0.31	0.55	0.47	0.54	0.45	0.55	0.48	0.54	0.45	0.52	0.47	0.51

The fixed asset turnover ratio for Blackbaud Inc has been on an increasing trend over the past 8 quarters, indicating that the company is generating more sales revenue relative to its investment in fixed assets. This suggests that Blackbaud is efficiently utilizing its fixed assets to generate revenue.

On the other hand, the total asset turnover ratio has been fluctuating across the quarters, with no clear trend. This ratio measures how efficiently the company is using all its assets to generate sales. A lower ratio may indicate that Blackbaud is not effectively utilizing all its assets to generate revenue.

In summary, Blackbaud Inc's fixed asset turnover ratio shows improved efficiency in generating sales from fixed assets over the quarters, while the total asset turnover ratio indicates varying levels of asset utilization efficiency. This analysis suggests that Blackbaud Inc may benefit from further evaluation and optimization of its overall asset utilization strategies.