Dynavax Technologies Corporation (DVAX)
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 | 3.85 | 5.33 | 5.76 | 6.49 | 6.65 | 4.77 | 5.72 | 4.12 | 4.50 | 1.35 | 0.99 | 1.21 | 1.32 | 1.51 | 1.70 | 2.13 | 2.43 | 2.43 | 2.48 | 2.81 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | 39.13 | 84.45 | 94.14 | 51.33 | 123.13 | 160.61 | 85.38 | 16.12 | 106.10 | 25.30 | 7.09 | 26.37 | 25.33 | 16.93 | 34.30 | 22.43 | 10.81 | 12.51 | 8.08 | 6.52 |
| Working capital turnover | 0.30 | 0.46 | 0.61 | 0.89 | 0.94 | 1.07 | 1.11 | 0.99 | 1.05 | 0.78 | 0.42 | 0.37 | 0.21 | 0.17 | 0.13 | 0.18 | 0.15 | 0.10 | 0.09 | 0.06 |
The activity ratios of Dynavax Technologies Corp. provide insights into the efficiency of the company's operations and management of its assets and liabilities.
- Inventory turnover: This ratio measures how many times the company's inventory is sold and replaced over a period. Dynavax's inventory turnover has been declining over the quarters, indicating that it takes longer for the company to sell its inventory.
- Receivables turnover: This ratio shows how efficiently the company collects cash from its customers. Dynavax's receivables turnover has been fluctuating but generally showing an increasing trend, suggesting improved efficiency in collecting payments from customers.
- Payables turnover: This ratio reflects how quickly the company pays its suppliers. Dynavax's payables turnover has been quite volatile, with a significant increase in Q3 2023 compared to the previous quarters, indicating that the company is paying its suppliers more frequently.
- Working capital turnover: This ratio demonstrates how effectively the company is utilizing its working capital to generate sales revenue. Dynavax's working capital turnover has been decreasing over the quarters, indicating a decline in the efficiency of using working capital to generate revenue.
Overall, Dynavax Technologies Corp. may need to focus on improving its inventory turnover and working capital turnover ratios to enhance operational efficiency and profitability. Monitoring and managing receivables turnover and payables turnover ratios will be crucial in maintaining healthy cash flow and relationships with suppliers and customers.
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 | 94.77 | 68.45 | 63.41 | 56.22 | 54.88 | 76.46 | 63.77 | 88.64 | 81.16 | 269.98 | 368.65 | 302.15 | 277.15 | 241.35 | 214.78 | 171.75 | 150.41 | 149.90 | 147.37 | 129.95 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | 9.33 | 4.32 | 3.88 | 7.11 | 2.96 | 2.27 | 4.27 | 22.65 | 3.44 | 14.43 | 51.51 | 13.84 | 14.41 | 21.56 | 10.64 | 16.27 | 33.76 | 29.18 | 45.17 | 55.94 |
The activity ratios of Dynavax Technologies Corp. provide insight into the efficiency of the company's operations and how effectively it manages its inventory, receivables, and payables.
1. Days of Inventory on Hand (DOH): The DOH ratio indicates how many days, on average, it takes for the company to sell its inventory. A higher number suggests slower inventory turnover. Dynavax's DOH has fluctuated significantly over the quarters, with a sharp increase in Q4 2023 compared to the previous quarters. This may indicate possible issues with inventory management or a buildup of excess inventory.
2. Days of Sales Outstanding (DSO): DSO reveals the average number of days it takes for the company to collect payments from its customers. A decreasing trend in DSO is typically favorable, as it signifies quicker collection of receivables. Dynavax showed an improvement in Q2 and Q3 2023, but experienced a slight increase in Q4 2023, indicating a potential slowdown in collecting payments from customers.
3. Number of Days of Payables: This ratio represents the average number of days it takes the company to pay its suppliers. A higher number of days of payables suggests that the company is taking longer to settle its bills. Dynavax's days of payables have varied across quarters, with fluctuations in payment terms. Q1 and Q4 2023 saw longer payment cycles compared to the previous quarters, potentially impacting the company's relationships with suppliers.
Overall, Dynavax Technologies Corp. should closely monitor its activity ratios to ensure efficient management of inventory, receivables, and payables, and strive for a balance that supports optimal cash flow and operational performance.
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 | 6.30 | 9.99 | 12.25 | 17.19 | 19.23 | 20.89 | 18.74 | 12.87 | 12.43 | 7.39 | 4.94 | 3.82 | 1.47 | 1.28 | 0.92 | 0.94 | 0.75 | 0.60 | 0.39 | 0.44 |
| Total asset turnover | 0.24 | 0.37 | 0.49 | 0.68 | 0.73 | 0.74 | 0.66 | 0.46 | 0.42 | 0.28 | 0.25 | 0.24 | 0.13 | 0.11 | 0.09 | 0.11 | 0.09 | 0.06 | 0.05 | 0.04 |
The fixed asset turnover ratio for Dynavax Technologies Corp. has shown a decreasing trend over the quarters analyzed, from 19.22 in Q4 2022 to 6.23 in Q4 2023, indicating that the company is generating less revenue per dollar invested in fixed assets. This could be a sign of less efficient utilization of fixed assets or a shift in the company's operations.
On the other hand, the total asset turnover ratio has also declined over the same period, moving from 0.73 in Q4 2022 to 0.23 in Q4 2023. This suggests that the company is generating less revenue per dollar invested in total assets. A decreasing trend in total asset turnover could indicate inefficiencies in the company's overall asset utilization or a change in the composition of its asset base.
Overall, both the fixed asset turnover and total asset turnover ratios for Dynavax Technologies Corp. have decreased significantly over the quarters analyzed, pointing towards potential challenges in generating revenue from its asset base. Further analysis and investigation into the company's operations and strategic decisions may be warranted to understand the reasons behind these deteriorating performance metrics.