CSX Corporation (CSX)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Inventory turnover	22.20	22.24	22.18	20.42	20.47	21.28	21.42	23.25	26.59	24.18	22.16	22.29	21.77	22.79	22.47	20.99	20.60	25.16	26.74	26.95
Receivables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Working capital turnover	—	14.56	33.18	32.66	91.61	34.60	17.56	14.65	10.78	8.07	35.67	11.10	7.64	7.32	4.30	4.21	4.37	5.50	7.60	7.32

CSX Corporation's inventory turnover ratio has shown fluctuation over the past few years, ranging from a high of 26.95 in March 2020 to a low of 20.42 in March 2024. This ratio indicates how efficiently the company is managing its inventory levels and converting them into sales.

The receivables turnover ratio is not available for analysis as the data is not provided. This ratio typically reflects how quickly the company is collecting its accounts receivable from customers.

Similarly, the payables turnover ratio data is unavailable for review, which would have shown how quickly CSX Corporation is paying its suppliers for goods and services.

The working capital turnover ratio, which measures how efficiently the company is using its working capital to generate revenue, has displayed significant variability. It ranged from a low of 4.21 in March 2021 to a high of 91.61 in December 2023. High values suggest effective utilization of working capital to drive sales.

In conclusion, while CSX Corporation's inventory turnover has shown some fluctuation, more data on receivables and payables turnover ratios would provide a more comprehensive analysis of its overall activity efficiency.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Days of inventory on hand (DOH)	days	16.44	16.41	16.46	17.88	17.83	17.15	17.04	15.70	13.73	15.09	16.47	16.37	16.77	16.02	16.24	17.39	17.72	14.51	13.65	13.54
Days of sales outstanding (DSO)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data for CSX Corporation, let's analyze the activity ratios:

1. Days of Inventory on Hand (DOH):
- The days of inventory on hand measures how many days, on average, it takes for the company to sell its inventory.
- CSX Corporation's DOH has fluctuated over the periods, ranging from a low of 13.54 days on March 31, 2020, to a high of 17.88 days on March 31, 2024.
- The trend in recent periods shows a slight increase in DOH, indicating that CSX may be holding onto its inventory for a longer duration.

2. Days of Sales Outstanding (DSO):
- Unfortunately, there is no data provided for the days of sales outstanding for CSX Corporation during the mentioned periods. DSO measures how long it takes for the company to collect its accounts receivable.
- Without this data, we are unable to assess the efficiency of CSX in collecting its receivables.

3. Number of Days of Payables:
- Similarly, there is no data available for the number of days of payables for CSX Corporation.
- This ratio would have provided insight into how long the company takes to pay its suppliers.

In conclusion, based on the available data, we can see that CSX Corporation has seen fluctuations in its days of inventory on hand over the periods. However, without information on days of sales outstanding and number of days of payables, a comprehensive analysis of CSX Corporation's efficiency in managing its receivables and payables is not possible.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Fixed asset turnover	—	—	—	—	—	0.42	0.44	0.44	0.43	0.43	0.41	0.40	0.38	0.36	0.34	0.33	0.33	0.33	0.34	0.37
Total asset turnover	0.34	0.34	0.35	0.34	0.34	0.35	0.36	0.37	0.35	0.34	0.35	0.32	0.31	0.30	0.28	0.27	0.27	0.27	0.28	0.30

Long-term activity ratios provide insights into how efficiently a company is utilizing its assets to generate revenue. In the case of CSX Corporation, we will analyze two key long-term activity ratios - Fixed Asset Turnover and Total Asset Turnover.

1. Fixed Asset Turnover: This ratio measures how well CSX is utilizing its fixed assets to generate sales. The trend of CSX's Fixed Asset Turnover ratio has been gradually improving from 0.37 in March 2020 to 0.44 in June 2023. This indicates that the company has been more efficient in generating revenue from its fixed assets over the years. However, the ratio dipped slightly to 0.42 in September 2023 before no data was available for the subsequent periods. Overall, the increasing trend suggests that CSX has been effectively managing and utilizing its fixed assets to drive sales.

2. Total Asset Turnover: This ratio indicates how efficiently CSX is using all its assets to generate sales. The Total Asset Turnover ratio for CSX has shown a fluctuating trend, starting at 0.30 in March 2020, dipping to 0.27 by September 2020, and then gradually increasing to 0.35 by June 2024. The ratio experienced some ups and downs during the period, reflecting variations in asset utilization efficiency. However, the overall improvement in the ratio suggests that CSX has been able to generate more revenue from its total assets over time.

In conclusion, both the Fixed Asset Turnover and Total Asset Turnover ratios indicate that CSX Corporation has been relatively efficient in utilizing its assets to generate sales, with the trend showing improvements in asset utilization over the years. Efficient management of assets is essential for long-term profitability and sustainability, and CSX's performance in this aspect seems to be positive based on the data provided.