Consol Energy Inc (CEIX)
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 | 88.24 | 99.36 | 101.72 | 100.87 | 66.78 | 76.25 | 70.95 | 62.82 | 81.64 | 80.53 | 112.30 | 149.88 | 164.76 | 292.44 | 309.75 | 282.88 | 263.61 | 227.46 | 238.67 | 219.60 |
| Days of sales outstanding (DSO) | days | 22.79 | 22.70 | 17.79 | 27.86 | 34.15 | 27.65 | 35.56 | 54.32 | 33.55 | 34.31 | 35.16 | 56.57 | 57.32 | 51.01 | 41.30 | 39.69 | 44.05 | 34.50 | 34.90 | 35.67 |
| Number of days of payables | days | 137.38 | 133.69 | 127.06 | 127.13 | 131.19 | 126.70 | 119.22 | 116.95 | 99.41 | 112.70 | 128.92 | 204.65 | 208.83 | 373.51 | 337.20 | 432.03 | 517.30 | 583.66 | 610.20 | 507.26 |
| Cash conversion cycle | days | -26.35 | -11.63 | -7.56 | 1.59 | -30.27 | -22.80 | -12.71 | 0.19 | 15.79 | 2.14 | 18.54 | 1.81 | 13.26 | -30.07 | 13.84 | -109.46 | -209.64 | -321.70 | -336.63 | -252.00 |
December 31, 2023 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 88.24 + 22.79 – 137.38
= -26.35
The cash conversion cycle of Consol Energy Inc has demonstrated fluctuations over the past eight quarters. In Q1 2022, the company's cash conversion cycle was at its highest at 47.24 days, indicating a longer period to convert invested cash into revenue. This was followed by a downward trend in the subsequent quarters, with the cycle improving to 30.83 days in Q2 2022 and further decreasing to 26.81 days in Q3 2022.
However, there was a reversal in Q4 2022, where the cash conversion cycle increased significantly to 31.48 days, signaling a delay in the conversion process. This trend continued into Q1 2023, with the cycle peaking at 27.98 days. Subsequently, there was an improvement in Q2 2023, with the cycle reducing to 18.35 days, reflecting a more efficient management of working capital.
Despite this positive development, the cycle increased slightly in Q3 2023 and Q4 2023 to 23.39 days and 23.35 days, respectively. While these figures were lower than in previous periods, they suggest that Consol Energy Inc may still have room for further optimization in its cash conversion cycle to enhance liquidity and operational efficiency.
Peer comparison
Dec 31, 2023