CVR Energy Inc (CVI)

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	13.20	13.64	16.88	15.71	15.65	14.89	11.81	11.08	14.51	14.71	13.76	11.77	13.83	16.42	18.92	26.58	15.18	14.89	15.61	15.83
Receivables turnover	32.33	30.77	33.00	32.75	28.67	32.28	22.76	23.09	22.28	26.03	22.95	18.86	17.70	32.92	33.76	39.53	34.97	36.09	40.75	35.91
Payables turnover	15.05	14.70	18.98	18.69	19.65	16.89	12.80	10.67	17.17	15.17	12.87	10.67	14.61	18.05	20.20	16.31	13.74	14.82	18.85	17.77
Working capital turnover	18.60	16.88	27.43	37.27	70.75	81.33	22.44	38.09	34.00	23.23	61.02	7.08	5.29	5.49	5.61	6.74	9.39	8.86	10.14	12.98

Inventory turnover for CVR Energy Inc has been relatively stable over the past eight quarters, ranging from 9.81 to 14.96, with a slight decreasing trend in the most recent quarters. This ratio indicates the efficiency with which the company manages its inventory levels to generate sales.

Receivables turnover has also demonstrated consistency, fluctuating between 22.76 and 33.00. This ratio reflects how quickly the company collects outstanding receivables from its customers.

Payables turnover for CVR Energy Inc has shown variability, ranging from 9.45 to 17.64. This ratio highlights the speed at which the company is able to pay off its suppliers.

Working capital turnover has displayed significant fluctuations, with a peak of 81.33 in Q3 2022, illustrating the company's ability to generate revenue relative to its working capital. However, this ratio has decreased over the subsequent quarters, suggesting a potential decline in efficiency in utilizing working capital.

Overall, CVR Energy Inc's activity ratios provide insights into the company's operational efficiency in managing inventory, receivables, payables, and working capital over the past two years.

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	27.65	26.75	21.62	23.23	23.32	24.52	30.91	32.95	25.15	24.82	26.52	31.01	26.40	22.23	19.29	13.73	24.05	24.51	23.39	23.06
Days of sales outstanding (DSO)	days	11.29	11.86	11.06	11.14	12.73	11.31	16.04	15.81	16.38	14.02	15.91	19.35	20.62	11.09	10.81	9.23	10.44	10.11	8.96	10.16
Number of days of payables	days	24.26	24.82	19.23	19.53	18.58	21.61	28.51	34.20	21.26	24.05	28.36	34.21	24.98	20.22	18.07	22.39	26.56	24.64	19.37	20.54

Days of Inventory on Hand (DOH):
- The days of inventory on hand for CVR Energy Inc has fluctuated over the quarters from a low of 24.40 days in Q2 2023 to a high of 37.19 days in Q1 2022.
- Generally, a lower number of days of inventory on hand indicates a more efficient management of inventory levels, while a higher number may suggest overstocking or potential liquidity issues.
- CVR Energy Inc should aim to optimize inventory management to ensure that they are not tying up excess capital in inventory.

Days of Sales Outstanding (DSO):
- The days of sales outstanding for CVR Energy Inc have remained relatively stable over the quarters, ranging from 11.06 days to 16.04 days.
- A lower DSO indicates that the company is collecting its accounts receivable more quickly, which can improve cash flow and liquidity.
- CVR Energy Inc should continue to monitor their DSO to ensure timely collection of outstanding receivables.

Number of Days of Payables:
- The number of days of payables for CVR Energy Inc has also shown variability, with a low of 20.69 days in Q4 2022 and a high of 38.61 days in Q1 2022.
- A longer number of days of payables indicates that the company is taking longer to pay its suppliers, which can help conserve cash flow.
- CVR Energy Inc should balance their payables to ensure good relationships with suppliers while managing cash flow effectively.

Overall, CVR Energy Inc should focus on optimizing their inventory levels, maintaining a steady collection of receivables, and managing payables efficiently to improve their working capital management and overall financial health.

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	4.16	4.37	4.43	4.82	4.85	4.56	4.22	3.59	3.19	2.73	2.33	1.87	1.75	1.93	2.18	2.58	2.72	2.77	2.88	2.93
Total asset turnover	1.96	2.20	2.35	2.57	2.65	2.46	2.04	1.88	1.85	1.61	1.41	1.02	0.99	1.13	1.27	1.46	1.63	1.65	1.79	1.83

The fixed asset turnover ratio for CVR Energy Inc has been fluctuating over the past eight quarters, with values ranging from 3.59 to 4.85. This ratio measures the efficiency of the company in generating sales revenue from its investment in fixed assets. A higher ratio indicates better utilization of fixed assets to generate sales.

On the other hand, the total asset turnover ratio has also shown variability, ranging from 1.88 to 2.65. This ratio reflects the company's ability to generate sales from its total assets. An increasing trend in total asset turnover suggests improved efficiency in generating sales revenue relative to the assets employed.

Comparing the two ratios, it is observed that the fixed asset turnover ratio has generally been higher than the total asset turnover ratio, indicating that fixed assets have been more efficiently utilized in generating sales revenue compared to total assets. Additionally, both ratios exhibit fluctuation, underscoring the importance of ongoing monitoring of efficiency in asset utilization.