Bloomin Brands Inc (BLMN)

Cash conversion cycle

		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	9.15	8.72	7.72	8.43	9.91	10.59	10.38	10.14	13.78	15.40	15.95	16.34	17.81	15.98	16.30	15.77	20.02	16.90	15.85	16.59
Days of sales outstanding (DSO)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	22.80	24.48	25.04	24.35	23.30	23.89	23.94	25.45	29.26	33.47	43.29	44.52	40.68	31.59	26.87	32.72	40.31	36.87	34.67	37.72
Cash conversion cycle	days	-13.65	-15.76	-17.32	-15.92	-13.39	-13.30	-13.56	-15.31	-15.48	-18.07	-27.34	-28.17	-22.87	-15.61	-10.57	-16.94	-20.29	-19.96	-18.83	-21.13

December 31, 2023 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 9.15 + — – 22.80
= -13.65

The cash conversion cycle of Bloomin Brands Inc has shown fluctuations over the past eight quarters. The company has managed to improve its cash conversion cycle over recent quarters, indicating more efficient management of its working capital.

In Q4 2023, the cash conversion cycle was -21.29 days, which was an improvement from the previous quarter's -29.58 days. This suggests that Bloomin Brands Inc was able to convert its inventory into cash more quickly during this period.

Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), there was an increase in the cash conversion cycle from -16.95 days to -21.29 days. This indicates a slight slowdown in the conversion of working capital into cash, which may require further investigation to understand the reasons behind this change.

Overall, Bloomin Brands Inc has demonstrated a generally efficient cash conversion cycle over the analyzed quarters, with occasional fluctuations that may warrant attention to optimize the management of working capital efficiency in the future.