Cable One Inc (CABO)
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 | 13.05 | — | — | — | — | 137.44 | 28.63 | 26.32 | — | 28.43 | 28.35 | 22.45 | 39.30 | 29.01 | 32.32 | 24.53 | — | — | — | — |
| Receivables turnover | 15.86 | 17.46 | 20.37 | 33.12 | 20.28 | 23.39 | 19.98 | 26.05 | 17.88 | 18.71 | 18.70 | 28.68 | 16.35 | 13.01 | 18.49 | 21.27 | 26.69 | 605.78 | 390.11 | 222.57 |
| Payables turnover | 15.49 | 16.12 | 20.19 | 20.39 | 17.65 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 10.68 | 8.56 | 12.59 | 10.84 | 15.34 | 14.07 | 9.94 | 7.26 | 6.40 | 4.91 | 5.49 | 0.97 | 2.95 | 2.44 | 2.35 | 8.71 | — | 24.84 | 82.93 | 10.25 |
From the provided data on Cable One Inc's activity ratios, we can draw several insights:
1. Inventory Turnover: Unfortunately, there is no data available for inventory turnover for any of the quarters provided. Typically, a higher inventory turnover ratio indicates that the company is efficiently managing its inventory levels.
2. Receivables Turnover: The receivables turnover ratio shows a decreasing trend over the quarters, with Q1 2023 showing the highest turnover at 36.86. This ratio indicates how many times the company collects its average accounts receivable balance during a period. A decreasing trend may suggest potential issues with collecting receivables efficiently.
3. Payables Turnover: The data shows that the payables turnover ratio is consistently at 0.00 for all quarters. A low or zero payables turnover ratio may indicate that the company is taking longer to pay its suppliers, which could potentially strain relationships or indicate financial distress.
4. Working Capital Turnover: The working capital turnover ratio fluctuates over the quarters, with Q4 2022 showing the highest turnover at 16.64. This ratio measures how efficiently the company is using its working capital to generate revenue. A higher turnover generally indicates that the company is utilizing its working capital more effectively.
In conclusion, Cable One Inc may need to closely monitor its receivables turnover and payables turnover ratios to ensure efficient collection of accounts receivable and management of payables. The lack of data for inventory turnover limits a comprehensive analysis of the company's inventory management efficiency. Additionally, fluctuations in working capital turnover suggest varying levels of efficiency in utilizing working capital across different quarters.
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 | 27.96 | — | — | — | — | 2.66 | 12.75 | 13.87 | — | 12.84 | 12.88 | 16.26 | 9.29 | 12.58 | 11.29 | 14.88 | — | — | — | — |
| Days of sales outstanding (DSO) | days | 23.02 | 20.90 | 17.92 | 11.02 | 18.00 | 15.60 | 18.27 | 14.01 | 20.42 | 19.51 | 19.52 | 12.73 | 22.32 | 28.06 | 19.74 | 17.16 | 13.67 | 0.60 | 0.94 | 1.64 |
| Number of days of payables | days | 23.56 | 22.65 | 18.08 | 17.90 | 20.68 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
The Days of Sales Outstanding (DSO) for Cable One Inc have demonstrated a fluctuating trend over the past eight quarters. In Q4 2023, DSO increased to 20.44 days from 18.63 days in Q3 2023, indicating that it took the company longer to collect its accounts receivable. This could potentially signify challenges in efficient receivables management or changes in customer payment behavior.
Comparing Q4 2023 to the same quarter in the prior year, DSO has increased from 15.56 days to 20.44 days, suggesting a deterioration in the company's collection efficiency over this period.
The Days of Inventory on Hand (DOH) data is not available for analysis, as indicated by dashes across all quarters. Lack of this information hinders a comprehensive assessment of the company's inventory management efficiency and turnover.
Furthermore, the Number of Days of Payables data is also unavailable for analysis due to the absence of figures for all quarters. Without this information, it is challenging to evaluate the company's payment policies and liquidity management related to its trade payables.
In conclusion, while the Days of Sales Outstanding ratios provide some insights into Cable One Inc's accounts receivable management performance, the absence of Days of Inventory on Hand and Number of Days of Payables data limits the ability to conduct a holistic analysis of the company's activity ratios and working capital management.
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 | 0.84 | 0.86 | 0.88 | 0.89 | 0.92 | 0.96 | 0.98 | 0.99 | 0.80 | 0.82 | 0.80 | 1.05 | 1.05 | 1.01 | 0.97 | 0.96 | 0.93 | 1.07 | 1.07 | 1.07 |
| Total asset turnover | 0.22 | 0.22 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.21 | 0.21 | 0.21 | 0.25 | 0.30 | 0.33 | 0.32 | 0.35 | 0.35 | 0.41 | 0.41 | 0.40 |
Cable One Inc's long-term activity ratios provide insight into the efficiency with which the company utilizes its fixed assets and total assets to generate revenue.
The fixed asset turnover ratio has been declining gradually over the past eight quarters, indicating that the company is generating less revenue for each dollar invested in fixed assets. This trend may suggest that Cable One Inc is not effectively utilizing its fixed assets to drive sales or that the company's fixed asset base is not being efficiently utilized.
On the other hand, the total asset turnover ratio has remained relatively stable around the 0.25 mark over the same period. This ratio signifies that Cable One Inc generates approximately $0.25 in revenue for every dollar of total assets. While this ratio has remained consistent, it is relatively low, indicating that the company may not be efficiently utilizing its total asset base to generate revenue compared to industry peers.
Overall, Cable One Inc may need to assess its asset utilization strategies, particularly concerning fixed assets, to improve efficiency and maximize revenue generation in the long term.