Curtiss-Wright Corporation (CW)

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 4.82 4.39 4.47 4.41 4.69 4.29 4.17 4.19 4.47 4.21 4.36 4.73 5.22 3.68 3.51 3.44 3.61 3.33 3.38 3.58
Receivables turnover 4.51 4.31 4.43 4.56 4.72 4.27 4.37 4.42 4.31 4.26 4.33 4.61 4.76 3.74 3.82 3.87 4.06 3.75 4.05 3.98
Payables turnover 10.55 11.48 11.11 10.44 9.81 10.86 9.74 10.65 8.10 11.60 12.26 12.56 10.15 10.08 9.44 9.56 7.70 9.70 9.10 9.40
Working capital turnover 4.99 3.83 3.85 4.03 3.80 4.38 4.09 4.12 5.82 5.30 8.00 5.97 5.38 3.81 3.92 4.33 4.88 2.60 4.00 3.84

Curtiss-Wright Corporation's inventory turnover ratio has been relatively steady over the past few years, ranging from 3.33 to 5.22. This indicates that the company is efficiently managing its inventory levels and converting them into sales.

The receivables turnover ratio has also shown stability, fluctuating between 3.74 and 4.76. This suggests that Curtiss-Wright is efficient in collecting payments from its customers, with a consistent ability to turn accounts receivable into cash.

Regarding payables turnover, the company has experienced fluctuations in the ratio, ranging from 7.70 to 12.56. A higher turnover ratio indicates a shorter time taken to pay suppliers, which may signal effective cash management or potentially strained supplier relationships.

The working capital turnover ratio has shown some variability, with values ranging from 2.60 to 8.00. A higher turnover ratio indicates more efficient utilization of working capital to generate sales, which can be positive for the company's overall financial performance.

In summary, Curtiss-Wright Corporation appears to have maintained relatively healthy activity ratios, showcasing efficient management of inventory, receivables, payables, and working capital to support its operations and financial health.

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 75.76 83.23 81.73 82.69 77.85 84.98 87.52 87.13 81.63 86.67 83.76 77.16 69.90 99.16 103.88 106.08 100.99 109.63 107.83 101.95
Days of sales outstanding (DSO) days 81.01 84.70 82.37 80.06 77.33 85.47 83.60 82.51 84.76 85.60 84.20 79.25 76.63 97.65 95.62 94.42 89.86 97.43 90.17 91.67
Number of days of payables days 34.59 31.79 32.86 34.96 37.22 33.61 37.47 34.26 45.04 31.46 29.77 29.06 35.94 36.22 38.66 38.18 47.38 37.61 40.12 38.85

Based on the provided data for Curtiss-Wright Corporation, let's analyze the activity ratios:

1. Days of Inventory on Hand (DOH):
- DOH measures how many days it takes for a company to sell its entire inventory.
- The trend for Curtiss-Wright Corporation's DOH has seen fluctuations over the years with values ranging from around 69 days to 109 days.
- In general, a lower DOH is preferred as it indicates efficient management of inventory levels. Curtiss-Wright's decreasing trend from 2022 to 2024 suggests an improvement in managing inventory.

2. Days of Sales Outstanding (DSO):
- DSO indicates the number of days it takes for a company to collect its accounts receivable.
- Curtiss-Wright's DSO has shown fluctuations over the years, ranging from around 76 days to 97 days.
- A lower DSO is favorable as it means faster collection of receivables. The decrease in DSO from 2021 to 2024 shows the company is collecting its receivables more efficiently.

3. Number of Days of Payables:
- This metric reflects how long it takes for a company to pay its suppliers.
- Curtiss-Wright's number of days of payables has also shown variability, ranging from around 29 days to 47 days.
- A longer number of days of payables may indicate favorable credit terms with suppliers. The decrease in this ratio from 2020 to 2022 followed by a slight increase suggests fluctuations in payment terms with suppliers.

In conclusion, Curtiss-Wright Corporation has experienced fluctuations in its activity ratios over the years, with certain improvements noted in inventory management and receivables collection efficiency. These ratios provide insights into the company's operational efficiency and relationships with customers and suppliers.

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 11.09 11.19 11.07 10.75 10.39 10.08 9.63 9.36 9.09 8.99 8.71 8.57 8.56 6.96 6.70 6.45 6.32 6.26 6.35 6.54
Total asset turnover 0.75 0.76 0.76 0.77 0.75 0.76 0.74 0.73 0.70 0.70 0.69 0.74 0.75 0.61 0.60 0.60 0.59 0.60 0.66 0.69

Curtiss-Wright Corporation's long-term activity ratios show a positive trend over the analysis period.

The fixed asset turnover ratio has steadily increased, indicating that the company is generating more revenue from its fixed assets. This trend suggests improved efficiency in utilizing its long-term assets to generate sales.

On the other hand, the total asset turnover ratio has shown some fluctuations but generally remained stable. The ratio signifies the company's ability to generate sales from its total assets. Despite some variations, the ratio has not deviated significantly from its average level, implying consistent performance in converting assets into revenue.

Overall, both ratios reflect positively on Curtiss-Wright Corporation's long-term asset management and operational efficiency, as evidenced by the increasing trend in fixed asset turnover and the relatively stable total asset turnover performance.