Celanese Corporation (CE)
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 | 89.50 | 88.50 | 99.19 | 113.96 | 124.81 | 81.92 | 84.08 | 80.16 | 85.13 | 68.83 | 72.48 | 73.04 | 72.63 | 75.98 | 76.72 | 72.96 | 71.61 | 66.60 | 66.68 | 65.48 |
| Days of sales outstanding (DSO) | days | 71.12 | 68.93 | 73.77 | 88.55 | 94.20 | 62.48 | 70.03 | 75.53 | 76.54 | 81.40 | 94.24 | 93.10 | 87.33 | 70.74 | 67.14 | 69.94 | 75.63 | 71.46 | 70.65 | 70.97 |
| Number of days of payables | days | 57.34 | 47.83 | 49.04 | 59.90 | 67.47 | 53.63 | 61.36 | 60.50 | 64.80 | 61.88 | 64.70 | 64.56 | 59.19 | 53.05 | 44.57 | 50.99 | 53.81 | 51.19 | 50.39 | 45.37 |
| Cash conversion cycle | days | 103.28 | 109.61 | 123.91 | 142.61 | 151.53 | 90.77 | 92.75 | 95.19 | 96.87 | 88.35 | 102.02 | 101.58 | 100.77 | 93.66 | 99.29 | 91.91 | 93.42 | 86.87 | 86.94 | 91.09 |
December 31, 2023 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 89.50 + 71.12 – 57.34
= 103.28
The cash conversion cycle of Celanese Corp has shown fluctuations over the past eight quarters. In Q1 2022, the company had a cash conversion cycle of 97.16 days, which decreased to 92.84 days in Q2 2022. This trend continued, with the cycle further decreasing to 95.02 days in Q3 2022.
However, starting from Q4 2022, the cash conversion cycle began to increase. In Q4 2022, the cycle stood at 142.07 days, and further increased in Q1 2023 to 146.16 days. The cycle peaked in Q2 2023 at 127.21 days before slightly decreasing to 111.98 days in Q3 2023.
Overall, Celanese Corp experienced a fluctuating cash conversion cycle over the analyzed period. The company showed an improvement in its working capital efficiency in mid-2022, but then faced challenges in managing its cash conversion cycle efficiently in the subsequent quarters. This indicates that Celanese Corp may have faced difficulties in managing its inventory, receivables, and payables effectively during these periods.
Peer comparison
Dec 31, 2023