Haverty Furniture Companies Inc (HVT)

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 8.46 8.31 7.79 8.11 7.85 6.66 6.72 7.48 7.98 7.32 7.29 7.15 7.86 5.48 4.81 5.11 5.45 7.65 6.98 7.02
Receivables turnover — — — — — — — — — — — — — 473.91 624.77 578.84 526.05 508.54 506.39 469.21
Payables turnover 42.32 40.24 44.02 59.27 39.81 36.66 25.65 27.65 28.64 25.14 24.59 29.58 22.48 18.38 22.11 33.62 20.52 27.82 36.44 34.68
Working capital turnover 7.66 7.83 8.75 7.74 8.60 8.81 10.10 10.22 10.27 7.45 6.49 6.30 6.67 5.59 5.67 10.83 10.36 9.76 9.78 8.45

Haverty Furniture Cos., Inc.'s inventory turnover ratio has been relatively stable over the past eight quarters, ranging from 3.59 to 3.82 times per year. This indicates that the company efficiently manages its inventory levels, with a higher turnover generally being better for reducing holding costs and minimizing obsolete inventory.

Unfortunately, the data for the receivables turnover ratio is missing, so we are unable to analyze the efficiency of the company in collecting its receivables.

The payables turnover ratio shows an inconsistent pattern, with significant fluctuations between quarters. The ratio ranged from 12.33 to 27.95 times per year over the period. A higher payables turnover ratio can indicate that the company is paying its suppliers more frequently, which may be a strategy to manage cash flow or take advantage of early payment discounts.

Lastly, the working capital turnover ratio has also shown variability over the quarters, ranging from 7.61 to 10.22 times per year. This ratio reflects how effectively the company utilizes its working capital to generate sales. A higher ratio suggests that the company is efficiently using its assets to generate revenue.

Overall, Haverty Furniture Cos., Inc. demonstrates strong inventory management practices based on its inventory turnover ratio. However, the company's effectiveness in managing receivables, payables, and working capital seems to vary over time, potentially indicating fluctuations in its operational efficiency and financial health.

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 43.15 43.95 46.88 45.01 46.48 54.84 54.35 48.81 45.72 49.83 50.10 51.06 46.45 66.62 75.89 71.36 67.00 47.69 52.32 52.01
Days of sales outstanding (DSO) days — — — — — — — — — — — — — 0.77 0.58 0.63 0.69 0.72 0.72 0.78
Number of days of payables days 8.62 9.07 8.29 6.16 9.17 9.96 14.23 13.20 12.75 14.52 14.84 12.34 16.24 19.86 16.51 10.86 17.79 13.12 10.02 10.53

Days of inventory on hand (DOH) for Haverty Furniture Cos., Inc. have shown some fluctuations over the past year, ranging from 95.44 days to 114.37 days. Generally, a lower DOH indicates better inventory management efficiency, while a higher DOH may suggest overstocking or slow inventory turnover. It is worth noting that the company's DOH has improved from the previous quarter, indicating a potential enhancement in inventory management.

Days of sales outstanding (DSO) data is not provided in the table, so it is difficult to assess the efficiency of the company in collecting its accounts receivable. A lower DSO would typically indicate that the company is collecting revenue more quickly, while a higher DSO could imply a slower collection process.

Number of days of payables for Haverty Furniture Cos., Inc. has varied between 13.06 days and 29.59 days over the past year. A lower number of days of payables generally indicates that the company is paying its suppliers more quickly, while a higher number suggests that the company is taking longer to settle its payables. The decreasing trend in days of payables from the previous quarter may reflect a more efficient cash management strategy or improved vendor relationships. However, it is essential to consider the industry norm and company-specific factors when evaluating payables 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 5.06 5.50 5.85 7.43 7.62 7.64 7.76 7.89 8.03 7.92 8.43 7.40 6.91 6.57 6.35 5.19 5.13 5.05 5.07 5.09
Total asset turnover 1.33 1.38 1.51 1.60 1.61 1.49 1.47 1.46 1.48 1.29 1.24 1.14 1.10 1.03 1.09 1.38 1.43 1.38 1.42 1.40

Haverty Furniture Cos., Inc. demonstrates a consistent performance in efficiently utilizing its fixed assets to generate revenue over the analyzed quarters. The fixed asset turnover ratio has ranged from 5.02 to 7.42, indicating that the company generates between $5.02 and $7.42 in sales for every dollar invested in fixed assets. This indicates that Haverty Furniture Cos., Inc. has been effectively utilizing its fixed assets to generate sales revenue.

In comparison, the total asset turnover ratio for Haverty Furniture Cos., Inc. over the quarters ranges from 1.32 to 1.61, reflecting the company's ability to generate between $1.32 and $1.61 in sales for every dollar invested in total assets. The increasing trend in the total asset turnover ratio over the quarters suggests that the company is becoming more efficient in utilizing its total assets to generate sales.

Overall, the long-term activity ratios suggest that Haverty Furniture Cos., Inc. has been effectively managing and utilizing its assets, both fixed and total, to generate sales revenue and drive the business forward.