Kellanova (K)

Activity ratios

Short-term

Turnover ratios

	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	Jun 30, 2020	Mar 31, 2020
Inventory turnover	7.04	5.70	5.94	6.00	6.00	5.78	5.91	5.86	7.99	6.21	6.02	6.23	6.88	6.88	6.78	6.97	7.04	7.05	7.35	7.61
Receivables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Working capital turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data, let's analyze the activity ratios of Kellanova over the years:

1. Inventory Turnover:
- Kellanova's inventory turnover has shown a gradual decrease from 7.61 on March 31, 2020, to 7.04 on December 31, 2020. It further declined to 5.70 on September 30, 2024, before increasing to 7.04 on December 31, 2024. This ratio indicates how efficiently the company is managing its inventory by selling and replenishing stock.

2. Receivables Turnover:
- The data does not provide information on Kellanova's receivables turnover, so we could not assess the company's efficiency in collecting accounts receivable during the analyzed period.

3. Payables Turnover:
- Similar to receivables turnover, there is no data available for Kellanova's payables turnover. This ratio assesses how quickly a company pays off its suppliers, impacting its liquidity and relationships with stakeholders.

4. Working Capital Turnover:
- The data also lacks information on Kellanova's working capital turnover, which evaluates the efficiency of the company in utilizing its working capital to generate sales.

In conclusion, based on the available information, we can see that Kellanova's inventory turnover fluctuated over the years, indicating changes in its inventory management efficiency. However, the lack of data on receivables turnover, payables turnover, and working capital turnover limits a comprehensive assessment of the company's overall operational efficiency and liquidity management.

Average number of days

		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	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	51.83	64.03	61.46	60.81	60.88	63.15	61.77	62.34	45.68	58.79	60.60	58.57	53.04	53.03	53.83	52.37	51.83	51.80	49.65	47.95
Days of sales outstanding (DSO)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Kellanova's Days of Inventory on Hand (DOH) has fluctuated over the years, ranging from around 45 days to 64 days. This ratio indicates the average number of days it takes for Kellanova to turn its inventory into sales. The upward trend in DOH from March 31, 2022, to December 31, 2023, may suggest potential inefficiencies in managing inventory levels or a slowdown in sales. However, the ratio saw a slight decrease by December 31, 2024.

On the other hand, there is no data available for Kellanova's Days of Sales Outstanding (DSO) or Number of Days of Payables for the periods provided. DSO measures the average number of days it takes for Kellanova to collect payment from its customers, while the Number of Days of Payables indicates how long the company takes to pay its suppliers. The absence of data for these ratios limits a comprehensive analysis of Kellanova's liquidity and efficiency in managing receivables and payables.

Overall, while the trends in Days of Inventory on Hand provide some insights into Kellanova's inventory management, the lack of data for DSO and payables days hinders a complete assessment of the company's activity ratios. Additional information would be needed to draw more conclusive conclusions about Kellanova's operational efficiency and effectiveness in managing its working capital.

Long-term

	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	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	—	—	—	—	—	3.16	3.83	3.96	3.48	4.18	3.99	3.78	3.17	3.23	3.24	3.83	3.71	3.88	3.92	3.92
Total asset turnover	0.82	0.68	0.70	0.71	0.71	0.74	0.80	0.80	0.83	0.78	0.77	0.77	0.78	0.77	0.77	0.77	0.77	0.71	0.73	0.74

The fixed asset turnover ratio for Kellanova over the years has shown some fluctuations. It started at 3.92 in March 2020, remained relatively stable, but experienced a decrease toward the end of 2022. The ratio then rose significantly in 2023, peaking at 4.18 in September 2022, before declining again in the following periods. Notably, the data for the last quarters of 2023 and all quarters of 2024 are not available.

On the other hand, the total asset turnover ratio has been more stable for Kellanova. It began at 0.74 in March 2020 and showed a slight increase by the end of the same year. The ratio remained relatively consistent around 0.77 to 0.78 until the end of 2022, where it experienced an increase to 0.83. However, it then decreased in the subsequent periods. The ratio dropped to 0.68 in September 2024, which was the lowest point observed.

In general, the fixed asset turnover ratio reflects how efficiently Kellanova is generating sales from its investments in fixed assets, while the total asset turnover ratio indicates how well the company is utilizing all its assets to generate revenue. The fluctuations in these ratios suggest varying levels of efficiency in asset utilization over the reporting periods.