Dynavax Technologies Corporation (DVAX)

Short-term

Turnover ratios

Activity ratios provide insights into how effectively a company manages its resources to generate sales and convert them into cash. Let's analyze the activity ratios of Dynavax Technologies Corporation based on the provided data:

1. Inventory Turnover:
- The inventory turnover ratio measures how efficiently a company manages its inventory. A higher ratio indicates that the company is selling its inventory quickly.
- In 2020, the inventory turnover was very low at 0.22, suggesting slower sales of inventory.
- However, the ratio increased significantly in 2021 and 2022 to 2.83 and 4.41, respectively, indicating improved inventory management and faster turnover.
- In 2023 and 2024, the inventory turnover decreased to 0.94 and 0.71, respectively, suggesting a slower movement of inventory.

2. Receivables Turnover:
- The receivables turnover ratio measures how efficiently a company collects payments from its customers. A higher ratio indicates faster collection of receivables.
- The data shows that receivables turnover information is not available for the specified years, indicating a lack of information on how quickly the company collects payments.

3. Payables Turnover:
- The payables turnover ratio measures how efficiently a company pays its suppliers. A higher ratio suggests that the company is paying its payables quickly.
- Similar to receivables turnover, payables turnover data is not provided for the given years, making it difficult to assess the company's payment practices.

4. Working Capital Turnover:
- The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales. A higher ratio indicates that the company is effectively using its resources.
- Dynavax Technologies Corporation's working capital turnover fluctuated over the years, ranging from 0.29 to 8.64.
- A high ratio in 2021 implies effective utilization of working capital to generate sales, while a lower ratio in other years suggests varying efficiency levels in turning working capital into revenue.

In summary, based on the provided activity ratios data, Dynavax Technologies Corporation has shown improvements in managing its inventory turnover but lacks information regarding receivables and payables turnover. The fluctuating working capital turnover indicates varying levels of efficiency in utilizing working capital to generate sales over the years.

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Average number of days

The activity ratios for Dynavax Technologies Corporation indicate the efficiency of the company in managing its inventory, sales, and payables.

1. Days of Inventory on Hand (DOH): The company's DOH has shown a significant improvement over the years, falling from 1,671.21 days as of December 31, 2020, to 517.13 days as of December 31, 2024. This suggests that the company has been able to reduce the number of days it takes to sell its inventory, potentially due to better inventory management practices or increased demand for its products.

2. Days of Sales Outstanding (DSO): The DSO data is not available for any of the years analyzed, implying that specific information regarding the time taken to collect receivables from customers is not provided. Without this data, it is challenging to assess the efficiency of the company in collecting outstanding payments from customers.

3. Number of Days of Payables: Similarly, the information on the number of days payables are outstanding is not available for any of the years examined. This makes it difficult to evaluate how effectively the company is managing its outstanding payments to suppliers.

In summary, while Dynavax Technologies Corporation has shown improvements in its inventory turnover over the years, the lack of data on sales outstanding and payables hinders a comprehensive analysis of the company's overall activity ratios.

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Long-term

The Fixed Asset Turnover ratio for Dynavax Technologies Corporation has shown a significant improvement over the years, increasing from 1.52 in 2020 to 19.22 in 2022. This indicates that the company is generating substantially more revenue for each dollar invested in fixed assets, reflecting efficient utilization of its long-term productive assets.

In contrast, the Total Asset Turnover ratio has depicted fluctuations during the period under review. It increased from 0.13 in 2020 to 0.73 in 2022, suggesting that the company was able to generate more sales revenue relative to its total asset base. However, there was a decline in 2023 to 0.23, followed by a slight recovery to 0.28 in 2024.

Overall, the Fixed Asset Turnover ratio highlights Dynavax Technologies' effectiveness in leveraging its fixed assets to drive sales, while the Total Asset Turnover ratio signifies the company's ability to generate revenue with respect to its total asset base, albeit with some variability in performance over the years.