Cohu Inc (COHU)
Activity ratios
Short-term
Turnover ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 2.91 | 3.01 | 3.00 | 3.07 | 3.50 | 3.51 | 3.72 | 3.98 | 4.13 | 4.13 | 3.97 | 3.43 | 3.62 | 3.58 | 3.37 | 3.68 | 3.85 | 4.14 | 3.61 | 3.28 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | 13.51 | 13.56 | 11.42 | 9.91 | 11.49 | 8.32 | 7.48 | 7.45 | 7.80 | 7.51 | 6.05 | 5.65 | 7.60 | 9.99 | 7.97 | 9.30 | 10.32 | 11.53 | 9.10 | 9.12 |
| Working capital turnover | 1.18 | 1.16 | 1.27 | 1.40 | 1.34 | 1.40 | 1.44 | 1.61 | 1.70 | 1.78 | 1.77 | 1.53 | 2.02 | 1.90 | 1.87 | 1.93 | 1.96 | 2.04 | 1.84 | 1.64 |
Inventory turnover for Cohu Inc has been relatively consistent over the periods analyzed, ranging from 2.91 to 4.14. This ratio indicates how efficiently the company manages its inventory by showing the number of times the inventory is sold and replaced during the period.
Receivables turnover data is not available in the provided table, limiting the analysis of the company's efficiency in collecting accounts receivable.
Payables turnover has shown some fluctuations but generally increasing trends, indicating the speed at which the company pays its suppliers. Cohu Inc has been able to manage its payables efficiently, with the turnover ranging from 5.65 to 13.61.
Working capital turnover has also shown consistency, ranging from 1.16 to 2.04 over the periods analyzed. This ratio reflects the effectiveness of the company in using its working capital to generate sales revenue. Cohu Inc has maintained a relatively stable level of efficiency in this aspect of its operations.
Overall, Cohu Inc demonstrates a satisfactory level of efficiency in managing its inventory, payables, and working capital based on the activity ratios analyzed. The company has shown consistent performance in these areas, which is essential for maintaining financial health and sustainable operations.
Average number of days
| 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 | 125.30 | 121.45 | 121.58 | 118.90 | 104.42 | 104.09 | 98.06 | 91.75 | 88.44 | 88.43 | 92.05 | 106.27 | 100.77 | 102.08 | 108.15 | 99.05 | 94.91 | 88.07 | 101.13 | 111.32 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | 27.02 | 26.91 | 31.96 | 36.84 | 31.77 | 43.85 | 48.80 | 48.99 | 46.80 | 48.60 | 60.31 | 64.55 | 48.03 | 36.55 | 45.77 | 39.26 | 35.36 | 31.65 | 40.13 | 40.02 |
Days of Inventory on Hand (DOH) for Cohu Inc have been fluctuating over the past few quarters ranging from 88.07 days to 125.30 days. The increasing trend in inventory days could indicate slower sales turnover or inefficient inventory management, potentially tying up capital in excess inventory. Conversely, a decrease in inventory days may suggest more efficient inventory management or potential issues with meeting customer demand.
Days of Sales Outstanding (DSO) data is missing, making it difficult to analyze Cohu Inc's collection efficiency and the average number of days it takes for the company to collect revenues from sales.
Number of Days of Payables for Cohu Inc have varied from 26.91 days to 64.55 days, reflecting the company's payment practices with suppliers. A higher number of days of payables may indicate that the company is taking longer to pay its suppliers, potentially improving cash flow in the short term but potentially impacting relationships in the long term.
Overall, the activity ratios suggest that Cohu Inc might need to focus on optimizing inventory levels and efficiently managing its working capital cycle.
Long-term
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 9.11 | 10.26 | 11.13 | 11.78 | 12.46 | 13.09 | 13.27 | 14.48 | 14.84 | 14.80 | 13.73 | 10.86 | 9.38 | 8.79 | 8.45 | 8.66 | 8.02 | 8.48 | 7.57 | 6.99 |
| Total asset turnover | 0.55 | 0.59 | 0.62 | 0.67 | 0.66 | 0.68 | 0.67 | 0.74 | 0.75 | 0.76 | 0.65 | 0.57 | 0.58 | 0.54 | 0.52 | 0.52 | 0.53 | 0.56 | 0.49 | 0.45 |
The fixed asset turnover ratio for Cohu Inc has been increasing steadily over the past few quarters, indicating that the company is generating more sales revenue relative to its investment in fixed assets. This suggests that Cohu is efficiently utilizing its fixed assets to generate sales.
On the other hand, the total asset turnover ratio has also shown an upward trend, although it fluctuates more compared to the fixed asset turnover ratio. The total asset turnover ratio indicates how well a company is using all its assets to generate sales. The increasing trend in this ratio suggests that Cohu is becoming more efficient in generating sales revenue relative to its total assets.
Overall, the improving trends in both fixed asset turnover and total asset turnover ratios reflect positively on Cohu's operational efficiency and asset utilization, which are key factors in driving long-term profitability and business sustainability.