LeMaitre Vascular Inc (LMAT)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 2.54 2.50 2.53 2.48 2.54 2.60 2.56 2.45 2.40 2.39 2.34 2.11 2.05 2.05 1.92 2.26 2.27 2.28 2.46 2.63
Receivables turnover 11.57 11.81 11.84 11.67 12.78 13.94 12.93 12.87 13.63 13.62 12.64 11.48 11.28 10.87 11.22 12.51 12.31 13.59 10.82 9.19
Payables turnover 40.84 33.21 39.95 40.84 45.23 45.12 44.14 54.44 49.53 35.22 52.92 38.74 40.35 45.06 74.98 69.43 36.18 52.54 58.95 34.45
Working capital turnover 1.76 1.84 2.10 2.10 2.06 2.16 2.23 2.24 2.27 2.37 3.83 3.38 3.19 3.69 4.18 2.84 2.86 2.52 2.08 1.87

Lemaitre Vascular Inc's activity ratios show trends in how efficiently the company manages its assets and liabilities to generate sales.

1. Inventory turnover: The company's inventory turnover has been relatively stable over the past year, ranging from 1.14 to 1.32. This indicates that Lemaitre Vascular is able to sell and replace its inventory at a moderate rate, with a slight decline in Q4 2023 compared to the previous quarters.

2. Receivables turnover: Lemaitre Vascular's receivables turnover has also remained steady around 7.0 to 8.0 over the past year. This suggests that the company is efficiently collecting its accounts receivable, with a slight decrease in Q3 and Q4 of 2023 compared to earlier quarters.

3. Payables turnover: The payables turnover ratio shows how quickly the company pays its suppliers. Lemaitre Vascular's payables turnover has fluctuated but generally remained at moderate levels, with a notable decrease in Q1 2022. A higher payables turnover ratio could indicate a more aggressive approach to managing payables.

4. Working capital turnover: This ratio reflects how effectively the company utilizes its working capital to generate sales. Lemaitre Vascular's working capital turnover has been relatively stable around 1.2, indicating that the company is efficiently utilizing its current assets to support its sales activities.

Overall, Lemaitre Vascular Inc's activity ratios suggest a generally efficient management of inventory, receivables, payables, and working capital to support its revenue generation activities, with some minor fluctuations observed over the quarters.

Average number of days

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 143.79 145.80 144.44 147.09 143.91 140.35 142.44 148.70 151.82 153.03 155.95 172.80 178.42 178.36 189.83 161.70 160.50 160.15 148.16 138.86
Days of sales outstanding (DSO) days 31.55 30.91 30.83 31.28 28.56 26.18 28.24 28.35 26.78 26.80 28.87 31.80 32.34 33.59 32.52 29.18 29.66 26.86 33.73 39.71
Number of days of payables days 8.94 10.99 9.14 8.94 8.07 8.09 8.27 6.70 7.37 10.36 6.90 9.42 9.05 8.10 4.87 5.26 10.09 6.95 6.19 10.59

Lemaitre Vascular Inc's activity ratios provide insights into the efficiency of its operations.

1. Days of Inventory on Hand (DOH): The company's average DOH ranged from 284.11 days to 319.10 days in Q2 2023 to Q4 2023. This indicates that Lemaitre Vascular holds inventory for an extended period, which may tie up funds and increase carrying costs. The trend shows a slight increase in inventory holding periods over the quarters.

2. Days of Sales Outstanding (DSO): Lemaitre Vascular's DSO varied between 46.98 days and 54.73 days from Q3 2022 to Q1 2023, suggesting the number of days it takes to collect receivables. A decrease in DSO is preferred as it signifies faster collection of payments. The company experienced some fluctuation in DSO over the quarters.

3. Number of Days of Payables: The number of days of payables ranged from 18.67 days to 24.28 days in Q1 2022 to Q3 2023. A higher number of days indicates that Lemaitre Vascular takes longer to pay its suppliers. A longer payment period can benefit the company by preserving cash flow, but it may strain relationships with suppliers if too long. The trend shows some variability in the payables period.

Overall, Lemaitre Vascular Inc should focus on reducing its inventory holding period to free up working capital, maintaining a stable DSO to ensure timely cash inflows, and managing payables effectively to optimize cash flow and relationships with suppliers.

Long-term

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
Fixed asset turnover 13.33 13.20 14.73 15.38 15.73 18.25 17.68 16.50 15.68 15.63 16.60 15.20 14.67 15.09 12.66 14.06 13.73 14.37 11.88 10.07
Total asset turnover 0.84 0.84 0.96 0.94 0.91 0.93 0.93 0.94 0.91 0.92 1.06 0.93 0.87 0.82 0.78 1.13 1.08 1.19 1.03 0.89

Lemaitre Vascular Inc's fixed asset turnover ratio has been relatively stable over the past eight quarters, ranging between 8.35 and 10.44. This ratio measures the efficiency of the company in generating sales from its fixed assets. The generally high fixed asset turnover ratios indicate that the company is effectively utilizing its fixed assets to generate revenue.

On the other hand, the total asset turnover ratio for Lemaitre Vascular Inc has also been consistent, hovering around 0.53 to 0.56 over the same period. This ratio reflects the company's ability to generate sales from all its assets, including both fixed and current assets. While the total asset turnover ratio is lower than the fixed asset turnover ratio, it suggests that the company may have a significant amount of non-fixed assets that are contributing to its revenue generation.

Overall, Lemaitre Vascular Inc's long-term activity ratios indicate that the company is efficiently utilizing its assets to generate sales, with both fixed and total asset turnover ratios showing relatively stable performance over the past two years.