Corteva Inc (CTVA)
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 | 1.81 | 1.71 | 2.00 | 1.59 | 1.44 | 1.59 | 1.83 | 1.59 | 1.53 | 1.88 | 2.35 | 1.91 | 1.78 | 2.06 | 2.50 | 2.00 | 1.74 | 1.91 | 2.34 | 1.96 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 3.59 | 3.18 | 2.64 | 2.89 | 2.94 | 2.90 | 2.56 | 3.48 | 2.88 | 2.79 | 2.42 | 2.58 | 2.61 | 2.43 | 2.12 | 2.39 | 2.29 | 2.20 | 2.04 | 2.63 |
The analysis of Corteva Inc's activity ratios provides insights into the efficiency of the company's operations.
1. Inventory Turnover: Corteva's inventory turnover ratio has fluctuated over the years, ranging from 1.44 to 2.50. A higher turnover ratio indicates that the company is selling its inventory more frequently, which is generally seen as positive. Corteva's inventory turnover has generally improved over the years, which suggests efficient management of inventory levels.
2. Receivables Turnover: Unfortunately, data for Corteva's receivables turnover ratio is not available, which makes it challenging to assess the efficiency of the company in collecting its receivables.
3. Payables Turnover: Similar to receivables turnover, the data for payables turnover is not available, making it impossible to analyze how efficiently Corteva is managing its payments to suppliers.
4. Working Capital Turnover: Corteva's working capital turnover has shown a positive trend over the years, consistently increasing from 2.04 to 3.59. A higher working capital turnover ratio indicates that the company is generating more revenue with each dollar of working capital invested. This improvement suggests that Corteva has been able to generate more sales relative to its working capital, which is a positive sign of operational efficiency.
In conclusion, based on the available data, Corteva Inc's inventory turnover and working capital turnover ratios indicate efficient management of inventory and working capital. However, the lack of data for receivables and payables turnover ratios limits a comprehensive analysis of the company's 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 | 201.74 | 213.55 | 182.63 | 229.91 | 253.84 | 229.21 | 199.50 | 229.28 | 238.22 | 194.57 | 155.25 | 191.08 | 205.07 | 177.17 | 146.22 | 182.16 | 209.47 | 190.90 | 155.67 | 186.07 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Corteva Inc's Days of Inventory on Hand (DOH) varies over the periods provided, ranging from a low of 146.22 days to a high of 253.84 days. A decreasing trend in DOH from June 30, 2021, to June 30, 2022, followed by an increase until December 31, 2024, indicates a fluctuating inventory management efficiency. While the company managed to reduce its inventory holding period in mid-2022, it rose significantly by the end of 2024, suggesting potential challenges in inventory control and sales forecasting.
However, specific data regarding Days of Sales Outstanding (DSO) and Number of Days of Payables are not available, limiting a comprehensive assessment of Corteva's working capital management and liquidity position. Without DSO and payable turnover information, it is challenging to gauge the effectiveness of the company's accounts receivable collection and payment terms with suppliers, respectively. Additional data on these ratios would provide a more holistic view of Corteva's operational efficiency and cash flow management.
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 | — | — | — | — | — | 4.01 | 4.07 | 4.15 | 4.10 | 4.09 | 3.88 | 3.71 | 3.62 | 3.57 | 3.43 | 3.36 | 3.23 | 3.27 | 3.27 | 3.31 |
| Total asset turnover | 0.41 | 0.40 | 0.41 | 0.39 | 0.40 | 0.40 | 0.40 | 0.39 | 0.41 | 0.42 | 0.41 | 0.38 | 0.37 | 0.37 | 0.36 | 0.34 | 0.33 | 0.34 | 0.33 | 0.34 |
Long-term activity ratios provide insights into how effectively a company is utilizing its assets to generate revenue. Two key ratios for Corteva Inc are the Fixed Asset Turnover and Total Asset Turnover ratios.
1. Fixed Asset Turnover:
- The Fixed Asset Turnover ratio measures how efficiently the company is using its fixed assets to generate sales.
- The trend for Corteva Inc shows an increasing Fixed Asset Turnover ratio from 3.31 in March 2020 to 4.15 in March 2023, indicating improved efficiency in utilizing fixed assets.
- The ratio dipped in June 2023 to 4.07 and further decreased to 4.01 in September 2023 before remaining stable at this level as there is no data available beyond December 2023.
- Overall, the increasing trend in the Fixed Asset Turnover ratio showcases the company's ability to generate more sales per dollar of fixed assets over the given period.
2. Total Asset Turnover:
- The Total Asset Turnover ratio indicates how well the company is using all its assets to generate sales.
- Corteva Inc saw a consistent increase in the Total Asset Turnover ratio from 0.34 in March 2020 to 0.41 in December 2022, showing improving efficiency in asset utilization.
- The ratio slightly fluctuated between 0.39 and 0.41 from March 2023 to December 2024, suggesting relatively stable performance in utilizing total assets to generate revenue.
- The overall trend in the Total Asset Turnover ratio reflects a positive trajectory in efficiency in generating sales from the company's total asset base over the analyzed period.
In conclusion, both the Fixed Asset Turnover and Total Asset Turnover ratios for Corteva Inc demonstrate improving efficiency in utilizing assets to drive sales, with some fluctuations along the way. These ratios indicate that the company is effectively managing its assets to generate revenue and enhance overall operational performance.