Calix Inc (CALX)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.68 | 4.33 | 4.13 | 4.19 | 3.91 | 3.26 | 3.15 | 2.95 | 2.90 | 2.82 | 3.69 | 3.24 | 3.63 | 4.24 | 4.02 | 4.07 | 5.25 | 6.22 | 6.78 | 7.91 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 1.83 | 1.96 | 2.18 | 2.35 | 2.53 | 2.27 | 2.27 | 2.25 | 2.27 | 2.25 | 2.23 | 2.35 | 2.42 | 2.61 | 2.79 | 3.00 | 3.26 | 3.72 | 11.16 | 15.96 |
Activity ratios provide insights into how efficiently a company is managing its assets and generating revenue. Let's analyze the activity ratios of Calix Inc based on the available data:
1. Inventory Turnover:
- Calix Inc's inventory turnover has been fluctuating over the years, indicating changes in how quickly the company is selling its inventory.
- The trend shows a general decline from 7.91 (March 31, 2020) to 3.68 (December 31, 2024), suggesting a potential inefficiency in managing and selling inventory.
2. Receivables Turnover:
- Unfortunately, data for Calix Inc's receivables turnover is not available, making it difficult to assess how quickly the company is collecting on its credit sales. Without this data, it's challenging to determine the efficiency of the company's credit policies.
3. Payables Turnover:
- Similar to receivables turnover, information on Calix Inc's payables turnover is not provided, limiting our ability to evaluate how efficiently the company is managing its trade credit with suppliers.
4. Working Capital Turnover:
- The working capital turnover ratio reflects how effectively Calix Inc is using its working capital to generate sales revenue.
- The trend in this ratio shows a gradual decrease from 15.96 (March 31, 2020) to 1.83 (December 31, 2024), indicating a decreasing efficiency in utilizing working capital to drive sales.
- A lower working capital turnover ratio may suggest that the company is not effectively utilizing its current assets to support revenue generation.
Overall, based on the analysis of the activity ratios, Calix Inc may need to address issues related to inventory management and working capital utilization to improve operational efficiency and financial performance. It would be beneficial for the company to focus on optimizing inventory turnover and working capital turnover to enhance profitability and liquidity in the future.
Average number of days
| Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 99.21 | 84.25 | 88.45 | 87.04 | 93.25 | 111.89 | 115.71 | 123.87 | 125.91 | 129.43 | 98.88 | 112.69 | 100.50 | 86.10 | 90.70 | 89.65 | 69.57 | 58.72 | 53.86 | 46.16 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Calix Inc's Days of Inventory on Hand (DOH) ratio provides insights into how efficiently the company manages its inventory. Over the observed period, the DOH has shown fluctuating trends, initially ranging around 50 days but increasing to over 100 days more recently.
A higher DOH value suggests that Calix Inc may be experiencing challenges in selling inventory quickly, leading to excess inventory levels or potential obsolescence issues. This could tie up working capital and increase storage costs.
Unfortunately, data on Days of Sales Outstanding (DSO) and Number of Days of Payables were not provided, which limits the ability to assess Calix Inc's accounts receivable and accounts payable management efficiency.
In conclusion, Calix Inc may need to focus on optimizing its inventory turnover to reduce the DOH and improve cash flow efficiency. Additionally, monitoring accounts receivable and payables turnover could provide a more comprehensive insight into the company's overall liquidity and working capital management.
Long-term
| Dec 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | 26.08 | 34.40 | 34.02 | 33.59 | 32.85 | 33.39 | 31.48 | 20.00 | 21.16 | 33.12 | 29.93 | 26.56 | 24.37 | 21.72 | 21.40 |
| Total asset turnover | 0.89 | 0.95 | 1.04 | 1.10 | 1.10 | 1.10 | 1.05 | 1.02 | 0.98 | 0.92 | 0.93 | 0.91 | 0.92 | 0.97 | 1.28 | 1.29 | 1.27 | 1.28 | 1.42 | 1.35 |
Calix Inc's fixed asset turnover ratio, which measures how efficiently the company is utilizing its fixed assets to generate revenue, has shown a fluctuating trend over the period under review. The ratio peaked at 34.40 in June 2023 but decreased thereafter to 26.08 by September 2023. This indicates varying levels of efficiency in generating sales from fixed assets during this period.
On the other hand, Calix Inc's total asset turnover ratio, which indicates how effectively the company is using all its assets to generate revenue, has been relatively unstable as well. The ratio ranged from a low of 0.92 in December 2021 to a high of 1.42 in June 2020. Notably, the ratio increased in the last few quarters of the data provided, with a consistent improvement from 0.98 in December 2022 to 1.10 by March 2024.
In conclusion, Calix Inc's long-term activity ratios suggest that the company's efficiency in utilizing fixed assets to generate revenue has been mixed, while its overall effectiveness in generating sales from all assets has shown improvement in the latter part of the period. Monitoring these ratios will be important to assess the company's operational performance and asset utilization efficiency in the future.