3D Systems Corporation (DDD)
Activity ratios
Short-term
Turnover ratios
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 5.69 | 5.54 | 3.63 | 3.75 | 4.06 | 4.36 | 4.73 | 5.71 | 5.96 | 6.50 | 6.27 | 5.71 | 5.11 | 4.87 | 4.98 | 4.75 | 5.50 | 5.77 | 5.36 | 4.97 |
| Receivables turnover | 4.76 | 4.79 | 4.73 | 5.16 | 5.47 | 5.65 | 5.51 | 5.40 | 5.60 | 6.14 | 7.53 | 7.40 | 6.17 | 4.85 | 5.53 | 5.80 | 5.62 | 5.75 | 5.85 | 5.74 |
| Payables turnover | 20.51 | 16.95 | 12.04 | 9.92 | 11.64 | 11.15 | 11.15 | 9.72 | 10.57 | 10.53 | 12.46 | 12.25 | 12.54 | 12.58 | 15.15 | 11.40 | 11.15 | 12.86 | 12.39 | 11.24 |
| Working capital turnover | 1.44 | 1.07 | 0.82 | 0.80 | 0.79 | 0.78 | 0.78 | 0.79 | 0.72 | 0.77 | 1.25 | 3.09 | 2.73 | 3.05 | 3.12 | 3.66 | 3.04 | 2.99 | 2.93 | 2.65 |
The activity ratios for 3D Systems Corporation show fluctuations in the efficiency of the company's operations over the past few quarters.
1. Inventory turnover: The inventory turnover ratio indicates how efficiently the company is managing its inventory levels. 3D Systems' inventory turnover ratio has varied between 3.63 and 6.50 over the past several quarters, with a general trend of improvement since late 2020. This suggests that the company is optimizing its inventory management and selling products more quickly.
2. Receivables turnover: The receivables turnover ratio reflects how quickly the company is collecting payments from customers. 3D Systems' receivables turnover ratio has fluctuated between 4.73 and 7.53, indicating some variability in collecting payments promptly. However, the ratio has generally been stable over time, suggesting consistent effectiveness in managing accounts receivable.
3. Payables turnover: The payables turnover ratio measures how efficiently the company is managing its accounts payable. 3D Systems' payables turnover ratio has shown fluctuations between 9.72 and 20.51, with a general trend of variability. Higher turnover ratios may indicate a shorter payment period to suppliers, while lower ratios could suggest extended payment terms.
4. Working capital turnover: The working capital turnover ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue. 3D Systems' working capital turnover ratio has ranged from 0.72 to 3.66, with significant variability in recent quarters. The spike in the ratio in Q4 2021 indicates a substantial increase in sales relative to working capital, potentially signaling improved operational efficiency.
Overall, while there are fluctuations in the activity ratios of 3D Systems Corporation, the company has shown improvements in inventory turnover and working capital efficiency over the past few quarters, indicating a positive trend in operational effectiveness.
Average number of days
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 64.15 | 65.88 | 100.57 | 97.31 | 89.91 | 83.79 | 77.17 | 63.95 | 61.20 | 56.13 | 58.24 | 63.93 | 71.50 | 74.92 | 73.35 | 76.76 | 66.35 | 63.25 | 68.16 | 73.46 |
| Days of sales outstanding (DSO) | days | 76.70 | 76.20 | 77.21 | 70.70 | 66.73 | 64.55 | 66.19 | 67.61 | 65.13 | 59.48 | 48.48 | 49.31 | 59.16 | 75.22 | 65.98 | 62.97 | 64.93 | 63.50 | 62.43 | 63.64 |
| Number of days of payables | days | 17.80 | 21.54 | 30.31 | 36.78 | 31.37 | 32.72 | 32.73 | 37.54 | 34.53 | 34.66 | 29.30 | 29.79 | 29.11 | 29.01 | 24.09 | 32.02 | 32.73 | 28.38 | 29.45 | 32.47 |
From the data provided, we can analyze the activity ratios of 3D Systems Corporation over the past few quarters.
1. Days of Inventory on Hand (DOH): This ratio indicates how many days, on average, it takes for the company to sell its inventory. A lower number is typically preferred as it suggests efficient management of inventory levels. In the most recent quarter, the DOH was 64.15 days, showing a slight improvement from the previous quarter at 65.88 days. However, compared to the same quarter last year, the DOH has increased significantly, indicating a potential buildup of inventory.
2. Days of Sales Outstanding (DSO): DSO shows how long it takes for the company to collect payment after a sale is made. A lower DSO is better as it indicates quicker collection of receivables. In the latest quarter, the DSO was 76.70 days, slightly higher compared to the previous quarter at 76.20 days. The increase in DSO suggests a potential increase in the average collection period, which may impact liquidity.
3. Number of Days of Payables: This ratio reflects how long it takes for the company to pay its suppliers. A longer number of days indicates that the company is taking more time to settle its payables. In the most recent quarter, the number of days of payables was 17.80 days, a decrease from the previous quarter at 21.54 days. This suggests that the company is paying its suppliers more quickly, which could have implications for cash flow management.
Overall, the analysis of these activity ratios for 3D Systems Corporation shows some fluctuations over the quarters, with some ratios improving while others deteriorating. It is essential for the company to closely monitor these ratios to ensure efficient management of working capital and overall financial health.
Long-term
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 8.55 | 7.94 | 7.78 | 8.04 | 8.33 | 9.14 | 9.89 | 10.34 | 10.96 | 11.42 | 11.73 | 11.08 | 8.47 | 7.36 | 6.71 | 6.61 | 6.84 | 6.77 | 6.94 | 6.70 |
| Total asset turnover | 0.60 | 0.52 | 0.35 | 0.35 | 0.36 | 0.37 | 0.39 | 0.39 | 0.40 | 0.42 | 0.67 | 0.92 | 0.86 | 0.76 | 0.77 | 0.75 | 0.78 | 0.78 | 0.78 | 0.75 |
The fixed asset turnover ratio for 3D Systems Corporation has shown a declining trend over the past few quarters, from a high of 11.73 in Q3 2021 to 8.55 in Q1 2024. This indicates that the company is generating less revenue per dollar of fixed assets invested.
On the other hand, the total asset turnover ratio has fluctuated over the same period, with a peak of 0.92 in Q4 2021 and a low of 0.35 in both Q3 and Q4 2023. This ratio reveals the efficiency with which the company utilizes all its assets to generate revenue.
Overall, while the fixed asset turnover has been declining, the total asset turnover has shown more variability. Both ratios suggest that the company may need to improve its asset utilization to optimize revenue generation from its investment in assets.