Integer Holdings Corp (ITGR)
Cash conversion cycle
| 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 | 83.19 | 61.07 | 62.45 | 63.49 | 61.51 | 64.90 | 61.97 | 57.33 | 52.90 | 52.49 | 56.23 | 61.24 | 57.81 | 79.98 | 81.03 | 76.52 | 75.88 | 69.45 | 65.39 | 63.21 |
| Days of sales outstanding (DSO) | days | 57.18 | 56.54 | 60.91 | 66.38 | 62.11 | 64.29 | — | — | 57.48 | — | — | — | 53.82 | — | — | — | — | — | — | — |
| Number of days of payables | days | 41.75 | 28.50 | 29.33 | 35.02 | 32.64 | 31.19 | 32.86 | 29.78 | 26.11 | 24.06 | 26.36 | 24.84 | 19.96 | 28.25 | 25.37 | 35.56 | 29.48 | 27.15 | 25.55 | 25.18 |
| Cash conversion cycle | days | 98.62 | 89.11 | 94.03 | 94.84 | 90.98 | 98.00 | 29.11 | 27.55 | 84.27 | 28.42 | 29.87 | 36.40 | 91.67 | 51.73 | 55.66 | 40.96 | 46.40 | 42.31 | 39.84 | 38.04 |
December 31, 2023 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 83.19 + 57.18 – 41.75
= 98.62
The cash conversion cycle of Integer Holdings Corp has been fluctuating over the past eight quarters. In the most recent quarter, Q4 2023, the company's cash conversion cycle was 91.92 days, which represents the time it takes for the company to convert its investments in inventory and other resources into cash flows from sales.
The trend over the past two years shows that the company has experienced some variability in its cash conversion cycle, ranging from a low of 91.92 days in Q4 2023 to a high of 103.54 days in Q3 2022. Generally, a lower cash conversion cycle is favorable as it indicates that the company is able to efficiently manage its working capital and turn its inventory and receivables into cash more quickly.
Overall, Integer Holdings Corp should continue to monitor and strive to improve its cash conversion cycle to ensure optimal efficiency in its operations and financial management.
Peer comparison
Dec 31, 2023