JBTMarel Corp (JBTM)
Cash conversion cycle
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 138.63 | 160.05 | 78.09 | 87.34 | 89.84 | 85.16 | 81.04 | 67.43 | 70.29 | 105.58 | 74.66 | 104.21 | 84.79 | 74.70 | 64.25 | 63.57 | 61.65 | 61.37 | 60.31 | 63.36 |
| Days of sales outstanding (DSO) | days | 73.02 | 91.16 | 71.28 | 72.14 | 69.21 | 65.49 | 63.36 | 52.15 | 56.26 | 78.68 | 52.09 | 77.60 | 72.79 | 64.82 | 65.15 | 64.47 | 63.98 | 60.87 | 64.30 | 60.70 |
| Number of days of payables | days | 60.58 | 73.62 | 43.89 | 48.79 | 47.09 | 48.47 | 45.66 | 36.08 | 40.72 | 64.60 | 48.25 | 66.41 | 63.25 | 57.60 | 52.16 | 53.50 | 53.74 | 47.04 | 43.01 | 43.84 |
| Cash conversion cycle | days | 151.07 | 177.59 | 105.48 | 110.68 | 111.96 | 102.18 | 98.74 | 83.50 | 85.83 | 119.67 | 78.50 | 115.40 | 94.33 | 81.92 | 77.24 | 74.53 | 71.90 | 75.20 | 81.61 | 80.23 |
June 30, 2025 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 138.63 + 73.02 – 60.58
= 151.07
The analysis of JBTMarel Corp’s cash conversion cycle (CCC) over the specified periods reveals notable fluctuations and a general trend of increasing duration from the initial period in September 2020 through to June 2025.
Initially, the CCC stood at approximately 80.23 days in September 2020, reflecting a relatively efficient cycle between inventory management, receivables, and payables. Throughout 2020 and into early 2021, the cycle remained relatively stable, fluctuating mildly around the 75–82 day range, indicating consistent operational efficiency during this period.
Starting from June 2021, there was a gradual decline, reaching a low of roughly 71.90 days in June 2021, which could suggest improvements in inventory turnover, receivables collection, or extended payables. Nonetheless, this improvement was short-lived, as by March 2022, the cycle increased again to approximately 81.92 days. The most notable development occurred between September 2022 and March 2023, when the CCC spiked sharply from 115.40 days to approximately 119.67 days, indicating a significantly longer duration to convert investments in inventory and receivables into cash.
Post-March 2023, a reduction trend began, with the cycle decreasing to around 85.83 days by June 2023. However, this improvement was temporary, as the cycle saw an upward move again, reaching approximately 102.18 days by March 2024. The most pronounced increase occurred from March 2024 to March 2025, where the CCC extended dramatically from about 102.18 days to nearly 177.59 days, and further to 151.07 days by June 2025. This substantial elongation suggests worsening cash flow efficiency, potentially due to extended receivables, increased inventory holding periods, or longer supplier payment terms.
In summary, JBTMarel Corp’s cash conversion cycle experienced periods of stability and improvement but has generally trended upward over the analyzed timeframe, with significant deterioration noted in the most recent periods. This increased cycle duration signifies a longer period to convert investments into cash, which could imply rising working capital requirements, payment delays, or operational inefficiencies affecting liquidity and cash flow management.
Peer comparison
Jun 30, 2025