Consol Energy Inc (CEIX)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Inventory turnover | 4.14 | 5.47 | 5.29 | 2.22 | 1.90 |
| Receivables turnover | 16.02 | 10.69 | 10.88 | 6.37 | 8.29 |
| Payables turnover | 2.66 | 2.78 | 4.34 | 1.75 | 0.97 |
| Working capital turnover | 16.33 | 14.04 | — | — | — |
Consol Energy Inc's inventory turnover has been consistently reported as 0.00 over the past five years, indicating that the company is not efficiently converting its inventory into sales during these periods.
The receivables turnover ratio has shown an improving trend, increasing from 7.97 in 2019 to 15.63 in 2023. This suggests that the company has been successful in collecting its accounts receivable more quickly over the years, reflecting a more efficient management of credit sales.
The payables turnover ratio has been reported as 0.00 across all years, indicating that Consol Energy Inc may not have significant activity in managing its accounts payable over these periods.
The working capital turnover ratio, unfortunately, only has data available for 2019 and 2020, where it was reported as 15.23 and was not reported for 2021 and 2022. In 2023, the ratio improved to 15.94, indicating that the company generated $15.94 in revenue for every dollar of working capital, which highlights the efficiency with which Consol Energy Inc is using its working capital to generate sales.
In conclusion, while the company shows efficiency in managing its receivables and working capital turnover ratios, there is a need for improvement in inventory management and payables turnover to enhance overall operational efficiency.
Average number of days
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 88.24 | 66.78 | 69.05 | 164.76 | 191.98 |
| Days of sales outstanding (DSO) | days | 22.79 | 34.15 | 33.55 | 57.32 | 44.05 |
| Number of days of payables | days | 137.38 | 131.19 | 84.07 | 208.83 | 376.72 |
Days of inventory on hand (DOH) information is missing for all years, so we are unable to assess the efficiency of inventory management.
Days of sales outstanding (DSO) decreased from 66.59 days in 2020 to 23.35 days in 2023. This indicates that the company has improved its ability to collect accounts receivable in a shorter period, which is a positive sign for liquidity and cash flow.
The number of days of payables information is not provided, so we cannot evaluate the company's payment practices.
Overall, based on the available data, Consol Energy Inc has shown improvements in its collection period, which could positively impact its working capital management and cash flow.
Long-term
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Fixed asset turnover | 1.35 | 1.07 | 0.64 | 0.50 | 0.68 |
| Total asset turnover | 0.96 | 0.78 | 0.49 | 0.40 | 0.53 |
Consol Energy Inc's long-term activity ratios indicate the efficiency with which the company is utilizing its fixed assets and total assets to generate sales revenue.
- Fixed asset turnover has shown improvement over the years, increasing from 0.66 in 2019 to 1.32 in 2023. This suggests that Consol Energy has been more effective in generating sales from its fixed assets. It indicates that the company is able to generate $1.32 in sales for every $1 invested in fixed assets in 2023, compared to $0.66 in 2019.
- Total asset turnover has also displayed a similar pattern of improvement, rising from 0.51 in 2019 to 0.94 in 2023. This signifies that Consol Energy has been increasing its sales relative to its total assets. It implies that the company generated $0.94 in sales for every $1 of total assets in 2023, compared to $0.51 in 2019.
Overall, the increasing trend in both fixed asset turnover and total asset turnover suggests that Consol Energy has been more efficient in utilizing its assets to generate sales revenue over the years, which may indicate improved operational efficiency and potential growth opportunities.