CSX Corporation (CSX)

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	10.41	10.53	10.74	11.82	13.54	12.24	10.96	10.91	10.65	11.21	11.14	10.03	9.83	12.43	13.43	14.08	14.23	16.03	17.42	16.27
Receivables turnover	9.97	10.03	10.84	10.64	10.96	9.67	9.16	10.21	10.81	8.90	9.31	10.43	11.00	10.30	12.34	11.52	12.12	11.09	11.11	11.20
Payables turnover	3.75	3.74	4.09	3.87	4.08	3.88	3.94	3.65	3.75	3.50	3.66	3.48	3.67	3.02	3.44	3.42	3.56	3.42	3.91	3.85
Working capital turnover	86.76	33.01	16.80	14.17	10.45	7.87	34.87	11.03	7.57	7.25	4.23	3.98	4.14	5.22	7.35	7.21	10.61	10.57	10.90	7.98

CSX Corp.'s inventory turnover ratio has consistently been reported as 0.00 across all quarters, indicating that the company is not effectively managing its inventory levels and may have excess or obsolete inventory on hand.

The receivables turnover ratio for CSX Corp. has shown relatively stable performance, ranging between 9.37 and 11.33 over the past eight quarters. This indicates that the company is efficient in collecting outstanding receivables from customers, with higher turnover ratios generally being more favorable.

On the other hand, the payables turnover ratio for CSX Corp. has remained at 0.00 for all quarters, suggesting that the company is not effectively managing its accounts payable or may be taking longer to pay its suppliers.

The working capital turnover ratio for CSX Corp. has shown significant fluctuations, with values ranging from 8.07 to 91.61 over the past two years. A higher working capital turnover ratio indicates that the company is generating more revenue relative to its working capital, which can be a positive sign of efficient resource utilization.

Overall, the analysis of CSX Corp.'s activity ratios suggests that the company may need to focus on improving its inventory management and accounts payable processes to enhance operational efficiency and optimize working capital utilization.

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	35.05	34.67	34.00	30.88	26.96	29.81	33.29	33.46	34.26	32.55	32.76	36.39	37.13	29.37	27.17	25.93	25.65	22.78	20.95	22.44
Days of sales outstanding (DSO)	days	36.63	36.39	33.67	34.31	33.29	37.73	39.86	35.75	33.76	40.99	39.22	34.99	33.17	35.43	29.58	31.69	30.10	32.90	32.85	32.59
Number of days of payables	days	97.22	97.52	89.18	94.29	89.35	94.09	92.68	100.09	97.31	104.41	99.64	104.90	99.46	120.97	106.02	106.74	102.50	106.71	93.33	94.88

Based on the activity ratios provided for CSX Corp., it is evident that there is a noticeable trend in the management of inventory, accounts receivable, and accounts payable.

The Days of Sales Outstanding (DSO) ratio, which measures how long it takes for the company to collect payments from its customers, has been relatively stable over the quarters, ranging from 32.23 to 38.97 days. A lower DSO indicates that CSX Corp. is efficient in collecting payments from its customers.

The Days of Inventory on Hand (DOH) ratio is not available for analysis in the provided data. However, a lower DOH would suggest that CSX Corp. is effectively managing its inventory levels and turning over inventory efficiently.

Unfortunately, the Number of Days of Payables ratio is not provided. This ratio would have been insightful to assess how long CSX Corp. takes to pay its suppliers.

Overall, based on the available data, CSX Corp. appears to be efficiently managing its accounts receivable, but without information on inventory and payables, a comprehensive analysis of the company's overall activity efficiency is limited.

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	0.40	0.40	0.42	0.43	0.42	0.42	0.41	0.40	0.38	0.36	0.34	0.31	0.31	0.31	0.33	0.36	0.37	0.38	0.39	0.39
Total asset turnover	0.33	0.34	0.35	0.35	0.34	0.34	0.34	0.32	0.31	0.29	0.28	0.25	0.25	0.26	0.27	0.30	0.31	0.31	0.33	0.32

The fixed asset turnover ratio for CSX Corp. has remained relatively stable around 0.42 to 0.44 over the past eight quarters. This indicates that the company generates approximately $0.42 to $0.44 in revenue for every dollar invested in fixed assets.

In contrast, the total asset turnover ratio has shown a slight fluctuation, ranging from 0.32 to 0.37 during the same period. This ratio reflects the company's efficiency in generating sales revenue from all assets, both fixed and current.

Overall, the fixed asset turnover and total asset turnover ratios suggest that CSX Corp. has been able to effectively utilize its assets to generate revenue consistently. However, the company may want to focus on improving the total asset turnover to enhance its overall asset efficiency and profitability.