Dynavax Technologies Corporation (DVAX)

Cash conversion cycle

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Days of inventory on hand (DOH) days 93.76 54.60 80.52 270.22 141.71
Days of sales outstanding (DSO) days
Number of days of payables days 9.23 2.95 3.41 14.05 31.81
Cash conversion cycle days 84.53 51.65 77.11 256.16 109.90

December 31, 2023 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 93.76 + — – 9.23
= 84.53

The cash conversion cycle of Dynavax Technologies Corp. has shown significant fluctuations over the past five years. In 2023, the cash conversion cycle increased to 419.54 days from 152.80 days in 2022, indicating a substantial increase in the time it takes for the company to convert its investments in inventory and accounts receivable into cash from sales.

The sharp increase in the cash conversion cycle in 2023 could be a cause for concern as it suggests that Dynavax Technologies Corp. may be facing challenges in managing its working capital efficiently. This could potentially lead to liquidity issues or inefficiencies in the company's operations.

Comparing the current cash conversion cycle to previous years, Dynavax Technologies Corp. has experienced significant fluctuations in the efficiency of its working capital management. The cash conversion cycle was notably high in 2020 and 2019, indicating prolonged periods between the company's cash outflows for inventory and cash inflows from sales.

Overall, the trend in Dynavax Technologies Corp.'s cash conversion cycle highlights the importance of monitoring and optimizing working capital management strategies to ensure the company's liquidity and operational efficiency.


Peer comparison

Dec 31, 2023