ICU Medical Inc (ICUI)

Short-term

Turnover ratios

Based on the provided data, we can analyze the activity ratios of ICU Medical Inc as follows:

1. Inventory Turnover:
- The inventory turnover ratio measures how efficiently the company manages its inventory. ICU Medical Inc's inventory turnover ratios have fluctuated over the years, ranging from 2.14 to 2.84. A higher turnover ratio indicates that the company is selling its inventory more quickly. In general, ICU Medical Inc has maintained a moderate level of inventory turnover.

2. Receivables Turnover:
- The receivables turnover ratio reflects how efficiently the company collects its accounts receivable. The data provided shows that ICU Medical Inc's receivables turnover ratios are unavailable (indicated as "—"). Without this data, it is challenging to evaluate the effectiveness of the company's credit and collection policies.

3. Payables Turnover:
- The payables turnover ratio measures how quickly the company pays its suppliers. The data indicates that ICU Medical Inc's payables turnover ratios are unavailable (indicated as "—"), making it difficult to assess the company's payment practices and relationships with suppliers.

4. Working Capital Turnover:
- The working capital turnover ratio shows how efficiently the company utilizes its working capital to generate sales. ICU Medical Inc's working capital turnover ratios have varied over the years, ranging from 1.59 to 3.08. A higher ratio suggests that the company is effectively using its working capital to support its operations and generate revenue. ICU Medical Inc has shown fluctuations in its working capital turnover, indicating changes in its working capital management efficiency.

In conclusion, based on the available data, ICU Medical Inc appears to have maintained moderate inventory turnover and fluctuating working capital turnover. However, the absence of data for receivables and payables turnover ratios limits a comprehensive analysis of the company's overall efficiency in managing its accounts receivable, payables, and working capital.

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Average number of days

Based on the provided data, let's analyze the activity ratios of ICU Medical Inc:

1. Days of Inventory on Hand (DOH):
- The DOH measures how many days, on average, it takes for a company to sell its inventory.
- ICU Medical Inc's DOH decreased from 142.00 days in 2020 to 128.44 days in 2021, indicating an improvement in inventory management.
- However, the DOH increased to 160.56 days in 2022, further rising to 170.42 days in 2023, before decreasing to 137.04 days in 2024.
- The increase in DOH in 2022 and 2023 suggests a longer holding period for inventory, which may tie up more capital and impact liquidity.

2. Days of Sales Outstanding (DSO):
- Unfortunately, the data provided does not include information on DSO for ICU Medical Inc.
- DSO measures the average number of days a company takes to collect revenue after a sale.
- It provides insights into the efficiency of the company's accounts receivable management.

3. Number of Days of Payables:
- Similar to DSO, no specific data on the number of days of payables is available for ICU Medical Inc.
- The payables period measures how long a company takes to pay its suppliers.
- A longer payables period may indicate favorable payment terms with suppliers, while a shorter period might signal efficient working capital management.

Overall, without DSO and payables data, a comprehensive analysis of ICU Medical Inc's complete activity ratios, including cash conversion cycle, cannot be performed. Additional information on accounts receivable and payables turnover would provide a more holistic view of the company's operational efficiency and liquidity management.

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Long-term

ICU Medical Inc's long-term activity ratios provide insights into the efficiency of the company's use of assets over time.

1. Fixed Asset Turnover:
- ICU Medical Inc's fixed asset turnover ratio has been improving steadily from 2.72 in 2020 to 3.20 in 2022. This indicates that the company has been generating more revenue per dollar of fixed assets invested, showing increased efficiency in utilizing these assets for revenue generation.

2. Total Asset Turnover:
- The total asset turnover ratio has shown some fluctuations, decreasing from 0.72 in 2020 to 0.50 in 2022, before slightly increasing to 0.57 in 2024. This suggests that the company's ability to generate sales from its total assets had declined initially but slightly recovered by 2024.

Overall, the improvement in the fixed asset turnover ratio reflects better utilization of fixed assets to drive revenue, while the fluctuations in the total asset turnover ratio may indicate changes in the company's overall asset management efficiency. Continual monitoring and analysis of these ratios can help evaluate ICU Medical Inc's long-term asset utilization strategies and operational performance.