National Vision Holdings Inc (EYE)

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 15.83 15.43 14.37 13.85 15.81 15.86 14.83 15.11 15.42 15.10 15.25 13.80 14.61 12.25 11.53 11.23 11.32 12.78 13.23 12.06
Receivables turnover 24.49 25.83 26.07 — 25.12 — — — 37.35 — — — — — — — — — — —
Payables turnover 28.10 29.58 27.10 22.92 29.82 28.05 27.44 27.72 29.64 24.72 23.72 20.67 25.06 19.94 25.91 24.42 35.41 31.54 29.67 29.93
Working capital turnover — 16.52 15.70 16.37 15.49 14.35 16.06 11.08 12.18 7.01 8.58 5.84 6.99 7.93 10.77 11.04 — — — —

National Vision Holdings Inc has shown consistent performance in managing its inventory effectively, with inventory turnover ratios ranging between 11.23 to 15.86 over the past five years. This indicates the company's ability to efficiently sell and replace its inventory during the period.

The receivables turnover ratio has been relatively high, showcasing the company's efficient management of its accounts receivable, reaching as high as 37.35. However, data for March 31, 2023, is missing, possibly indicating a change in the reporting structure or processes.

In terms of payables turnover, National Vision Holdings Inc has been able to effectively manage its accounts payable, with ratios fluctuating between 19.94 to 35.41. This reflects the company's ability to settle its short-term obligations in a timely manner.

The working capital turnover ratios have shown varying trends over the years, indicating fluctuations in the company's efficiency in utilizing its working capital to generate sales revenue. Notably, the ratios peaked at 16.52 in September 2023, indicating a significant increase in sales generated per unit of working capital.

Overall, National Vision Holdings Inc has demonstrated efficiency in managing its inventory, receivables, payables, and working capital, which are crucial aspects of its operational activities. The company's ability to maintain stable and favorable activity ratios reflects positively on its operational performance and management effectiveness.

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 23.06 23.66 25.40 26.36 23.09 23.02 24.61 24.16 23.67 24.18 23.94 26.45 24.99 29.79 31.67 32.50 32.24 28.56 27.60 30.28
Days of sales outstanding (DSO) days 14.90 14.13 14.00 — 14.53 — — — 9.77 — — — — — — — — — — —
Number of days of payables days 12.99 12.34 13.47 15.92 12.24 13.01 13.30 13.17 12.31 14.77 15.39 17.66 14.57 18.31 14.09 14.95 10.31 11.57 12.30 12.19

The Days of Inventory on Hand (DOH) ratio for National Vision Holdings Inc has exhibited fluctuations over the periods provided. On average, the company holds inventory for approximately 24 days before selling it, with a range between 23 to 32 days. A decreasing trend in this ratio could indicate efficient inventory management and faster turnover of goods.

The Days of Sales Outstanding (DSO) ratio shows the average number of days it takes for the company to collect on its sales. The data is quite sporadic, but generally, National Vision Holdings Inc collects payment from customers in around 14 days, with a range between 9 to 15 days. A lower DSO value suggests effective credit management and speedier collection of receivables.

The Number of Days of Payables ratio represents how long the company takes to pay its suppliers. National Vision Holdings Inc typically pays its suppliers within approximately 13 days, with a range between 10 to 18 days. A longer payment period could indicate strong bargaining power with suppliers or potential liquidity challenges.

Overall, analyzing the company's activity ratios reveals insights into its efficiency in managing inventory, collecting receivables, and paying suppliers, which are crucial factors in assessing the company's operational performance and financial health.

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 6.05 5.84 5.60 5.64 5.82 5.62 5.80 5.92 6.36 6.25 6.08 5.16 5.25 5.19 4.86 5.25 4.98 4.41 4.23 4.28
Total asset turnover 0.98 0.92 0.88 0.88 0.88 0.88 0.89 0.89 0.91 0.87 0.86 0.72 0.71 0.68 0.69 0.77 0.83 0.79 0.78 0.76

The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate sales. National Vision Holdings Inc has shown a consistent trend of improvement in its fixed asset turnover ratio over the past several quarters, indicating that the company is becoming more efficient in generating revenue from its fixed assets.

On the other hand, the total asset turnover ratio reflects how well a company is using all its assets to generate sales. National Vision Holdings Inc also demonstrates a positive trend in its total asset turnover ratio, although the improvement is not as significant as seen in the fixed asset turnover ratio.

Overall, the increasing fixed asset turnover ratio suggests that National Vision Holdings Inc is using its fixed assets more efficiently to drive sales, while the total asset turnover ratio indicates a moderate improvement in the company's overall asset utilization for generating revenue. These trends signal improved operational efficiency and effective asset management within the company.