CEVA Inc (CEVA)

Short-term

Turnover ratios

The activity ratios of CEVA Inc indicate how efficiently the company manages its resources related to inventory, receivables, payables, and working capital turnover.

1. Inventory Turnover: The inventory turnover ratio for CEVA Inc shows the number of times the company sells and replaces its inventory during a specific period. The data indicates that as of September 30, 2023, the inventory turnover ratio was 10.44, suggesting that the company was able to sell and replace its inventory more than 10 times within that period. However, the information for other periods is not available for analysis.

2. Receivables Turnover: The receivables turnover ratio measures how well the company is collecting its accounts receivable. Unfortunately, the data does not provide any information on the receivables turnover ratio for CEVA Inc, limiting our ability to assess the efficiency of its collection process.

3. Payables Turnover: The payables turnover ratio assesses how quickly a company pays its suppliers. Similar to the receivables turnover, the data lacks information on the payables turnover ratio for CEVA Inc, making it challenging to evaluate the company's payment practices.

4. Working Capital Turnover: The working capital turnover ratio evaluates how effectively the company is utilizing its working capital. The working capital turnover ratio has varied over the periods provided, ranging from 0.54 to 0.95. A declining trend in this ratio may indicate inefficiencies in managing working capital, while an increasing trend could suggest improved utilization of resources.

In conclusion, based on the available data, CEVA Inc shows a high inventory turnover ratio as of September 30, 2023, indicating efficient management of inventory. However, the lack of information on receivables turnover, payables turnover, and limited data on working capital turnover hinders a comprehensive assessment of the company's overall activity ratios.

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Average number of days

CEVA Inc's Days of Inventory on Hand (DOH) ratio was 34.98 days as of September 30, 2023. This indicates that, on average, the company held inventory for approximately 34.98 days before selling it during that period.

The Days of Sales Outstanding (DSO) ratio and Number of Days of Payables data were not provided for the specified periods, thus making it difficult to provide a comprehensive analysis of CEVA Inc's activity ratios beyond the inventory turnover. These ratios are essential in understanding the efficiency of the company's operations in managing receivables and payables.

In conclusion, based on the available data, it can be inferred that CEVA Inc improved its inventory turnover efficiency by reducing the number of days inventory was held before being sold by September 30, 2023. However, a more thorough analysis incorporating all activity ratios would provide a more holistic view of the company's operational performance.

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Long-term

CEVA Inc's fixed asset turnover ratio has exhibited fluctuation over the years, but there is a general increasing trend from March 31, 2020, to December 31, 2022, with a peak at 18.97 on December 31, 2022. This ratio indicates the efficiency of CEVA Inc in generating revenue from its fixed assets. However, there was a slight decrease to 17.40 on June 30, 2023, followed by missing data for the later periods, which requires further investigation to understand its impact on the company's operations.

In contrast, CEVA Inc's total asset turnover ratio has shown an increasing trend from March 31, 2020, to September 30, 2022, peaking at 0.46 on September 30, 2022. This indicates CEVA Inc's ability to generate sales in relation to its total assets. However, the ratio dipped to 0.32 by December 31, 2023, before showing a slight recovery in the subsequent periods.

Overall, analyzing both ratios together can provide insights into how effectively CEVA Inc is utilizing its assets to generate revenue and indicates the company's operational efficiency and effectiveness in managing its asset base.