Haynes International Inc (HAYN)

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 1.31 1.28 1.24 1.23 1.18 1.21 1.16 1.28 1.31 1.38 1.46 1.49 1.51 1.53 1.56 1.58 1.65 1.81 1.73 1.70
Receivables turnover 6.09 5.35 6.21 5.44 5.64 5.14 5.53 5.16 6.22 5.68 6.05 6.38 7.70 6.92 7.48 7.16 7.38 6.22 6.02 5.62
Payables turnover 11.62 10.03 9.09 9.56 7.27 7.88 5.99 7.49 8.90 7.18 10.69 14.29 19.75 21.48 20.66 15.68 11.55 13.62 10.85 11.31
Working capital turnover 1.29 1.26 1.29 1.25 1.27 1.27 1.47 1.37 1.28 1.17 1.05 1.03 1.12 1.21 1.36 1.48 1.53 1.57 1.57 1.55

The inventory turnover ratio for Haynes International Inc. has been relatively stable over the past eight quarters, ranging from 1.02 to 1.19. This indicates that the company is effective in managing its inventory levels and converting them into sales.

The receivables turnover ratio shows an improving trend, with values increasing from 5.17 in Q3 2022 to 6.29 in Q3 2023. This suggests that the company is collecting its accounts receivables more efficiently over time.

Haynes International Inc.'s payables turnover ratio has shown fluctuations, with the highest value of 10.53 in Q1 2024 and the lowest value of 5.28 in Q3 2022. This indicates variability in how quickly the company is paying its suppliers.

The working capital turnover ratio has been relatively consistent, ranging from 1.26 to 1.48 over the past eight quarters. This ratio highlights how efficiently the company is using its working capital to generate sales revenue.

Overall, Haynes International Inc. appears to be effectively managing its activity ratios, with improvements in receivables turnover and stable performance in inventory turnover and working capital turnover. However, there is some variability in payables turnover, which may warrant further investigation into the company's vendor payment practices.

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 278.59 285.43 294.55 296.54 309.82 301.74 315.64 284.34 279.49 264.92 250.14 244.62 241.84 238.29 233.31 230.56 221.80 201.12 210.39 215.06
Days of sales outstanding (DSO) days 59.89 68.19 58.75 67.10 64.70 71.02 65.96 70.80 58.66 64.22 60.33 57.20 47.43 52.78 48.77 50.99 49.44 58.72 60.63 64.98
Number of days of payables days 31.42 36.40 40.17 38.17 50.18 46.32 60.94 48.72 40.99 50.83 34.14 25.54 18.49 17.00 17.67 23.28 31.61 26.81 33.65 32.27

Days of inventory on hand (DOH) for Haynes International Inc. have shown a fluctuating trend over the past eight quarters, ranging from a high of 358 days in Q3 2022 to a low of 307 days in Q1 2024. This indicates that the company has taken varying amounts of time to sell its inventory, with a general decreasing trend over recent quarters.

Days of sales outstanding (DSO) have also varied for the company, ranging from a low of 58 days in Q3 2023 to a high of 71 days in Q4 2022. This metric reflects how long it takes for the company to collect its accounts receivable, with lower numbers indicating faster collections.

The number of days of payables for Haynes International Inc. has fluctuated as well, with a range of 34 days in Q1 2024 to 69 days in Q3 2022. This measure indicates how long the company takes to pay its suppliers, with lower numbers suggesting a quicker payment cycle.

Overall, Haynes International Inc. should aim to optimize its inventory management to reduce the days of inventory on hand, improve its collection processes to lower the days of sales outstanding, and maintain an appropriate balance in managing its payables to ensure efficient working capital management.

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 4.17 4.24 3.99 3.88 3.66 3.56 3.05 2.74 2.49 2.39 2.14 2.05 2.19 2.48 2.64 2.88 2.93 2.88 2.80 2.67
Total asset turnover 0.85 0.82 0.82 0.81 0.78 0.77 0.72 0.71 0.69 0.62 0.57 0.56 0.62 0.68 0.71 0.76 0.81 0.82 0.82 0.80

Haynes International Inc.'s long-term activity ratios reflect its ability to efficiently utilize its assets to generate sales. The fixed asset turnover ratio has been consistently increasing over the past quarters, from 2.75 in Q2 2022 to 4.23 in Q1 2024. This indicates that the company is generating more revenue relative to its investment in fixed assets such as property, plant, and equipment.

Similarly, the total asset turnover ratio has also been steadily improving, increasing from 0.71 in Q2 2022 to 0.86 in Q1 2024. This suggests that the company is becoming more efficient in using all its assets, including both fixed and current assets, to generate sales.

Overall, the trend in both fixed asset turnover and total asset turnover ratios indicates that Haynes International Inc. is improving its efficiency in utilizing its long-term assets to drive revenue growth, which can be seen as a positive indicator of the company's operational performance.