Glaukos Corp (GKOS)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Inventory turnover 6.41 5.92 6.03 6.48 7.49 7.37 7.21 6.89 7.09 7.71 9.31 10.30 10.96 12.73 14.18 16.03 16.71 13.89 12.91 9.33
Receivables turnover 6.16 6.28 6.48 6.73 7.61 7.46 7.30 7.37 7.56 7.90 7.82 8.35 8.76 8.31 7.53 6.44 6.18 6.55 7.81 8.17
Payables turnover 28.39 31.92 29.46 25.49 23.40 28.15 33.20 23.18 18.62 22.98 12.17 31.83 34.38 29.68 35.66 28.39 60.44 40.79 29.48 19.97
Working capital turnover 1.00 1.09 1.06 0.99 0.94 0.88 0.85 0.79 0.73 0.71 0.70 0.67 0.69 0.67 2.01 1.70 0.53 0.53 0.52 1.31

Based on the provided data, let's analyze Glaukos Corp's activity ratios:

1. Inventory Turnover: The inventory turnover ratio measures how efficiently the company manages its inventory by indicating the number of times inventory is sold and replaced during a specific period. Glaukos Corp's inventory turnover has been gradually decreasing from 9.33 on March 31, 2020, to 6.41 on December 31, 2024. A decreasing trend in inventory turnover may suggest potential issues with sales, overstocking, or slow-moving inventory.

2. Receivables Turnover: The receivables turnover ratio reflects how quickly a company collects its accounts receivable. Glaukos Corp's receivables turnover has fluctuated over the years, ranging from 6.18 on December 31, 2020, to 7.61 on December 31, 2023. A higher receivables turnover indicates more efficient management of credit sales and timely collections from customers.

3. Payables Turnover: The payables turnover ratio shows how quickly a company pays its suppliers. Glaukos Corp's payables turnover varied significantly, with a high of 60.44 on December 31, 2020, and a low of 12.17 on June 30, 2022. A lower payables turnover may indicate a liquidity issue, while a higher turnover suggests efficient management of payables and potential cash flow benefits.

4. Working Capital Turnover: The working capital turnover ratio assesses how effectively a company utilizes its working capital to generate sales revenue. Glaukos Corp's working capital turnover has shown an increasing trend from 0.52 on June 30, 2020, to 1.00 on December 31, 2024. A higher working capital turnover ratio indicates better utilization of resources and efficient working capital management.

In conclusion, Glaukos Corp's activity ratios provide insights into its efficiency in managing inventory, receivables, payables, and working capital. Monitoring these ratios over time can help identify areas for improvement and assess the company's operational performance.

Average number of days

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Days of inventory on hand (DOH) days 56.93 61.69 60.54 56.36 48.72 49.54 50.64 52.96 51.51 47.36 39.20 35.43 33.31 28.67 25.75 22.77 21.84 26.27 28.28 39.11
Days of sales outstanding (DSO) days 59.30 58.17 56.32 54.23 47.97 48.90 49.97 49.53 48.28 46.19 46.69 43.73 41.67 43.91 48.45 56.63 59.04 55.69 46.76 44.68
Number of days of payables days 12.86 11.44 12.39 14.32 15.60 12.97 10.99 15.75 19.61 15.89 29.98 11.47 10.62 12.30 10.23 12.86 6.04 8.95 12.38 18.27

Glaukos Corp's Days of Inventory on Hand (DOH) has shown an increasing trend over the past few years, starting at 39.11 days as of March 31, 2020, and reaching 56.93 days by December 31, 2024. This suggests that the company is holding inventory for a longer period before it is sold, which could potentially indicate inefficiencies in inventory management or challenges in selling products.

On the other hand, Glaukos Corp's Days of Sales Outstanding (DSO) has fluctuated over the same period, with a peak of 59.04 days as of December 31, 2020, and a low of 41.67 days by December 31, 2021. This ratio measures how long it takes for the company to collect its accounts receivable, indicating the efficiency of its credit policies and collection efforts. The decreasing trend in DSO could signify improved credit management practices or a more timely collection of receivables.

Lastly, the Number of Days of Payables, which reflects the average number of days it takes for a company to pay its suppliers, has varied as well. Glaukos Corp's payables days ranged from a low of 6.04 days as of December 31, 2020, to a high of 29.98 days by June 30, 2022. A lower number of days of payables indicates that the company is paying its suppliers more quickly, while a higher number could imply a more favorable working capital position.

Overall, the trends in Glaukos Corp's activity ratios suggest potential areas of strength and weakness in its working capital management and operational efficiency, which could impact its overall financial performance and liquidity position.

Long-term

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Fixed asset turnover 3.82 3.59 3.31 3.08 2.94 2.85 2.79 2.84 2.89 3.15 3.48 3.89 4.25 4.82 5.20 5.46 9.29 9.21 8.99 10.37
Total asset turnover 0.38 0.38 0.36 0.34 0.32 0.31 0.30 0.29 0.27 0.27 0.27 0.28 0.28 0.28 0.27 0.23 0.22 0.22 0.21 0.30

Glaukos Corp's fixed asset turnover ratio has been on a declining trend over the years, indicating a decrease in the efficiency of generating sales from its fixed assets. The ratio decreased from 10.37 in March 2020 to 2.94 in December 2023 before showing a slight increase to 3.82 in December 2024.

On the other hand, the total asset turnover ratio has fluctuated over the same period. It started at a low of 0.21 in June 2020, gradually increased to 0.38 in December 2024. This ratio suggests how effectively Glaukos Corp is using its total assets to generate sales.

Overall, the declining trend in fixed asset turnover and mixed performance in total asset turnover indicate a need for Glaukos Corp to assess its asset utilization efficiency and work towards improving it to optimize its long-term operational performance.