International Seaways Inc (INSW)

Short-term

Turnover ratios

Based on the provided data for International Seaways Inc, let's analyze the activity ratios:

1. Inventory Turnover:
- The inventory turnover ratio measures how efficiently a company manages its inventory. International Seaways Inc's inventory turnover has shown a significant increase over the years, from 70.11 in 2020 to 172.81 in 2024, indicating that the company is selling its inventory more frequently. However, there was a peak at 742.28 in 2022, which could potentially signify a change in inventory management strategies during that year.

2. Receivables Turnover:
- The receivables turnover ratio measures how efficiently a company collects its outstanding receivables. In this case, the data shows that no accounts receivable turnover figures are available (denoted by "—"), which could suggest that International Seaways Inc does not rely heavily on credit sales or have a significant accounts receivable balance to turnover.

3. Payables Turnover:
- Similar to receivables turnover, there is no data available for payables turnover for International Seaways Inc for any of the years provided. This lack of information makes it challenging to assess how efficiently the company manages its accounts payable.

4. Working Capital Turnover:
- The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales. The data shows fluctuations in the working capital turnover ratio over the years, with a decrease from 2.85 in 2020 to 2.24 in 2022, followed by an increase to 3.88 in 2024. A higher turnover ratio indicates that the company is effectively utilizing its working capital to generate revenue.

In summary, based on the activity ratios provided, International Seaways Inc has shown improvements in inventory turnover and working capital turnover, indicating a positive trend in managing inventory and working capital efficiently. However, the lack of data for receivables and payables turnover limits the comprehensive analysis of the company's overall efficiency in managing accounts receivable and accounts payable.

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Average number of days

International Seaways Inc has shown a significant improvement in managing its inventory over the five-year period. The Days of Inventory on Hand (DOH) decreased from 5.21 days as of December 31, 2020, to a low of 0.49 days by December 31, 2022, before slightly increasing to 2.11 days by December 31, 2024. This downward trend indicates that the company has become more efficient in managing its inventory levels, potentially reducing carrying costs and minimizing the risk of obsolete inventory.

On the other hand, the Days of Sales Outstanding (DSO) and Number of Days of Payables data for International Seaways Inc show a lack of information available for analysis in the provided dataset for all years from 2020 to 2024. As a result, it is not possible to assess the efficiency of the company in collecting receivables and managing its payables during this period.

Overall, the improvement in the Days of Inventory on Hand suggests that International Seaways Inc has been successful in optimizing its inventory management practices, which can positively impact its working capital and overall financial performance. However, additional information on the DSO and payables turnover would provide a more complete picture of the company's operational efficiency.

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Long-term

The fixed asset turnover ratio for International Seaways Inc has displayed significant fluctuations over the past five years. In 2020, the ratio was 0.38, indicating that the company generated $0.38 in revenue for every dollar invested in fixed assets. However, this ratio dropped to 0.15 in 2021, suggesting a decrease in the efficiency of utilizing fixed assets to generate revenue.

The ratio rebounded strongly in 2022 to 0.45, showing an improvement in the efficiency of fixed asset utilization. The data for 2023 and 2024 is not available (denoted by "—"), making it difficult to assess the trend in the later years.

In contrast, the total asset turnover ratio, which measures how efficiently the company generates sales from all its assets, also showed fluctuations but remained relatively stable. In 2020, the ratio was 0.27, declining to 0.12 in 2021, indicating a decrease in overall asset efficiency.

The ratio increased to 0.33 in 2022, implying a better utilization of total assets to generate revenue. There was a further improvement in 2023, with the ratio reaching 0.43, before slightly declining to 0.36 in 2024.

Overall, the analysis suggests that International Seaways Inc has experienced varying levels of efficiency in utilizing both fixed and total assets to generate revenue over the past five years. Further examination of the company's operational and strategic changes may be required to fully understand the factors driving these fluctuations in the long-term activity ratios.