Johnson Controls International PLC (JCI)

Activity ratios

Short-term

Turnover ratios

	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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Inventory turnover	12.21	6.60	6.46	6.16	9.99	8.08	8.15	8.50	9.07	9.15	9.17	9.13	10.52	10.39	10.68	11.21	12.35	11.38	11.40	11.94
Receivables turnover	3.73	4.08	4.03	4.43	4.42	4.01	4.31	4.42	4.35	4.24	4.31	4.27	4.10	4.05	4.27	4.20	3.99	4.19	4.27	4.25
Payables turnover	6.39	4.58	4.81	4.65	5.35	5.82	5.71	5.95	5.53	5.71	5.62	5.42	5.78	5.77	6.23	6.68	7.02	7.43	7.42	6.99
Working capital turnover	—	—	—	—	—	29.94	73.35	92.51	56.53	—	—	66.83	26.45	22.71	15.25	14.21	12.37	27.05	52.93	14.73

Johnson Controls International PLC has demonstrated varying levels of efficiency in managing its inventory, receivables, and payables over the past few quarters.

Firstly, the inventory turnover ratio has shown fluctuations, ranging from a low of 6.16 to a high of 12.21. This indicates that the company has been able to sell and replace its inventory at different rates, with higher turnover generally viewed as more favorable as it suggests efficient management of inventory levels.

Secondly, the receivables turnover ratio has also varied, with values ranging from 3.99 to 4.43. This ratio indicates how quickly the company is collecting on its credit sales, with higher turnover ratios implying a faster collection of receivables.

Thirdly, the payables turnover ratio has shown some inconsistency, fluctuating between 4.58 and 7.43. A higher turnover ratio here generally indicates that the company is paying its suppliers more quickly, which can sometimes reflect favorable credit terms or effective cash management.

Lastly, the working capital turnover ratio, although not consistently available for all periods, suggests that the company has been efficient in utilizing its working capital to generate revenue, with values ranging from 12.37 to 92.51 when reported. A higher working capital turnover ratio signifies that the company is generating more revenue per unit of working capital employed.

In conclusion, Johnson Controls International PLC has demonstrated varying levels of efficiency in managing its activity ratios, with some fluctuations observed over different quarters. Further analysis and monitoring of these ratios can provide insights into the company's operational efficiency and working capital management.

Average number of days

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Days of inventory on hand (DOH)	days	29.90	55.29	56.52	59.29	36.53	45.18	44.79	42.93	40.24	39.90	39.80	39.98	34.69	35.14	34.18	32.56	29.55	32.08	32.02	30.57
Days of sales outstanding (DSO)	days	97.92	89.47	90.61	82.32	82.56	90.93	84.75	82.54	83.83	86.07	84.65	85.57	89.08	90.11	85.57	86.81	91.56	87.15	85.57	85.93
Number of days of payables	days	57.11	79.72	75.94	78.43	68.26	62.77	63.89	61.36	65.95	63.94	64.90	67.32	63.18	63.31	58.58	54.63	52.00	49.13	49.19	52.22

Days of inventory on hand (DOH) for Johnson Controls International PLC have shown fluctuations over the past five quarters, ranging from a low of 29.55 days to a high of 59.29 days. This indicates varying efficiency in managing inventory levels, with the latest figure of 29.90 days suggesting the company currently holds about a month's worth of inventory on average.

Days of sales outstanding (DSO) have also exhibited variability, with values fluctuating between 82.32 days and 97.92 days. A higher number of days indicates a longer time taken to collect outstanding payments from customers. The latest figure of 97.92 days suggests that Johnson Controls International PLC takes approximately three months to collect its accounts receivable.

The number of days of payables for the company has ranged from 49.13 days to 79.72 days in the past five quarters. A higher number of days of payables indicates that the company takes longer to pay its suppliers. The most recent figure of 57.11 days suggests that Johnson Controls International PLC takes around two months to settle its payables.

Overall, the analysis of activity ratios highlights areas where Johnson Controls International PLC may need to focus on enhancing efficiency, such as managing inventory levels and collections from customers. Additionally, the company's ability to manage its payables effectively can impact its working capital management and liquidity position.

Long-term

	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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Fixed asset turnover	9.55	9.04	8.69	8.57	11.32	8.25	8.37	8.18	8.05	8.47	8.00	7.61	7.38	7.48	7.40	7.14	7.30	7.44	7.21	7.18
Total asset turnover	0.54	0.63	0.62	0.61	0.64	0.61	0.60	0.59	0.60	0.59	0.58	0.58	0.57	0.55	0.54	0.53	0.55	0.55	0.58	0.56

The fixed asset turnover ratio for Johnson Controls International PLC has been relatively stable over the past two years, ranging from 7.14 to 11.32 times. This indicates that the company generates between 7.14 to 11.32 times in sales revenue for every dollar invested in fixed assets during the period. The higher the fixed asset turnover ratio, the more efficiently the company is utilizing its fixed assets to generate revenue.

On the other hand, the total asset turnover ratio has shown some fluctuations, but generally ranged from 0.53 to 0.64 times over the same period. This ratio signifies how effectively the company is utilizing its total assets to generate sales. A higher total asset turnover ratio suggests that the company is efficient in generating sales revenue using its total asset base.

In comparison, the fixed asset turnover ratio is significantly higher than the total asset turnover ratio, implying that Johnson Controls International PLC is more efficient in generating sales revenue using its fixed assets rather than its total assets. This could indicate that the company's fixed assets are being utilized effectively to drive revenue growth.