Calavo Growers Inc (CVGW)

Activity ratios

Short-term

Turnover ratios

Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019
Inventory turnover 22.19 30.96 25.06 24.80 25.86 30.61 34.30 22.13 21.53 26.22 21.14 18.82 24.21 25.53 25.52 24.92 27.47 30.56 24.13 21.31
Receivables turnover 24.10 14.19 12.13 14.45 17.23 18.63 14.02 10.41 11.37 12.56 11.76 10.46 12.38 14.74 13.98 14.15 14.68 17.42 13.42 13.46
Payables turnover 178.55 62.90 59.31 55.37 65.46 113.90 107.12 63.67 95.23 109.12 96.19 71.63 70.03 113.68 105.40 154.72 53.02 64.72 72.67 76.06
Working capital turnover 6.97 18.74 19.92 36.50 41.13 50.13 40.66 25.47 17.69 27.80 17.69 12.94 15.16 34.59 27.00 47.38 38.66 32.46 22.55 26.39

Calavo Growers Inc has shown fluctuations in its activity ratios over the past few quarters.

1. Inventory turnover: The company's inventory turnover ratio ranged from a low of 18.82 to a high of 34.30 over the past two years, with an average of around 25. This indicates that, on average, Calavo converted its inventory into sales approximately 25 times during the year.

2. Receivables turnover: The receivables turnover ratio fluctuated between 10.41 and 24.10, with an average of approximately 14. This suggests that the company collected its accounts receivables about 14 times during the year, indicating a relatively efficient collection process.

3. Payables turnover: Calavo's payables turnover demonstrated significant variability, ranging from 53.02 to 178.55 over the same period. On average, the company turned over its payables around 93 times per year. A high turnover could indicate the company is quickly paying off its suppliers, while a lower turnover suggests a longer payment period.

4. Working capital turnover: The working capital turnover ratio ranged from 12.94 to 50.13, with an average of approximately 30. This ratio indicates how efficiently the company is using its working capital to generate sales. A higher ratio implies that the company is effectively using its working capital to support sales and operations.

Overall, these activity ratios provide insights into how efficiently Calavo Growers Inc is managing its inventory, receivables, payables, and working capital to support its business operations and generate sales.

Average number of days

Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019
Days of inventory on hand (DOH) days 16.45 11.79 14.57 14.72 14.11 11.92 10.64 16.49 16.95 13.92 17.27 19.40 15.08 14.30 14.30 14.65 13.29 11.94 15.13 17.13
Days of sales outstanding (DSO) days 15.14 25.72 30.10 25.26 21.19 19.59 26.04 35.07 32.10 29.07 31.03 34.90 29.47 24.76 26.11 25.80 24.86 20.95 27.20 27.12
Number of days of payables days 2.04 5.80 6.15 6.59 5.58 3.20 3.41 5.73 3.83 3.35 3.79 5.10 5.21 3.21 3.46 2.36 6.88 5.64 5.02 4.80

Calavo Growers Inc's activity ratios provide insights into how efficiently the company manages its inventory, accounts receivable, and accounts payable.

1. Days of Inventory on Hand (DOH): This ratio indicates the number of days it takes for the company to sell its inventory. Calavo Growers Inc's DOH has ranged from 10.64 to 19.40 days over the past few quarters, with an average of around 14 days. Lower DOH values suggest better inventory management efficiency, which can lead to lower storage costs and reduced risk of obsolete inventory.

2. Days of Sales Outstanding (DSO): DSO measures the average number of days it takes for the company to collect payment from its customers. Calavo Growers Inc's DSO has varied from 19.59 to 35.07 days, with an average of about 27 days. A lower DSO is preferable as it indicates faster cash collection and potentially better liquidity.

3. Number of Days of Payables: This ratio represents the average number of days it takes for the company to pay its suppliers. Calavo Growers Inc's payables period ranges from 2.04 to 6.88 days, with an average of approximately 4.5 days. A longer payables period indicates that the company is taking longer to settle its debts, which can help to preserve cash flow but may strain supplier relationships if extended too far.

Overall, monitoring these activity ratios can help evaluate the efficiency of Calavo Growers Inc's working capital management and identify areas where improvements can be made to enhance operational performance and financial health.

Long-term

Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019
Fixed asset turnover 14.68 9.13 8.55 9.18 9.88 11.05 10.65 10.14 9.55 9.49 7.89 7.40 7.35 8.28 8.25 9.16 9.25 9.06 9.03 8.93
Total asset turnover 2.20 2.50 2.35 2.60 2.88 3.08 2.83 2.48 2.37 2.37 2.22 2.04 2.17 2.38 2.47 2.53 2.57 3.07 2.87 2.74

The fixed asset turnover ratio for Calavo Growers Inc has been fluctuating over the past few quarters, ranging from a low of 7.35 to a high of 14.68. This ratio indicates the company's efficiency in generating sales from its fixed assets. A higher fixed asset turnover ratio signifies better asset utilization and efficiency. Calavo's fixed asset turnover has generally been above 7 in recent quarters, indicating that the company is effectively utilizing its fixed assets to generate sales.

On the other hand, the total asset turnover ratio has also varied for Calavo Growers Inc, ranging from 2.04 to 3.08. This ratio measures the company's ability to generate sales from its total assets. A higher total asset turnover ratio typically suggests efficient utilization of both fixed and current assets in generating sales. Calavo's total asset turnover has generally been above 2 in recent quarters, indicating that the company is effectively generating sales from its total asset base.

Overall, the trend in both fixed asset turnover and total asset turnover ratios for Calavo Growers Inc suggests that the company is efficiently utilizing its assets to generate sales. The fluctuations in these ratios may be indicative of changes in the company's asset base or sales volume over the analyzed period.