Mednax Inc (MD)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Inventory turnover | 18.88 | — | — | — | — |
| Receivables turnover | 7.17 | 6.32 | 5.76 | 6.71 | 6.80 |
| Payables turnover | 7.38 | 8.32 | 8.01 | 5.53 | 16.91 |
| Working capital turnover | 20.66 | 1,864.13 | 4.41 | 1.47 | 17.89 |
The activity ratios of Pediatrix Medical Group Inc reflect the efficiency of the company's operations in managing its inventory, receivables, payables, and working capital turnover.
- Inventory turnover information is not available in the data provided, indicating that the company may not have significant inventory holdings or the ratio was not calculated for these years.
- Receivables turnover, which measures how efficiently the company collects payments from customers, has shown a slight fluctuation over the years. The ratio improved from 6.05 in 2021 to 7.13 in 2023, indicating that the company is collecting payments more quickly from customers.
- Payables turnover is consistently zero across all years, suggesting that the company may not have significant trade payables or that the ratio was not computed for these periods.
- Working capital turnover, a measure of how effectively the company utilizes its working capital to generate sales, shows significant variability over the years. The ratio significantly increased to 1,960.26 in 2022 from 1.57 in 2020, before decreasing to 21.11 in 2023. Such fluctuations could indicate changes in the company's operational efficiency and capital management strategies.
Overall, the receivables turnover and working capital turnover ratios provide insights into Pediatrix Medical Group Inc's efficiency in managing its receivables and working capital to support its operations and generate revenue. The zero values for inventory turnover and payables turnover may suggest that these aspects are less significant in the company's operations or may not have been reported or computed.
Average number of days
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 19.33 | — | — | — | — |
| Days of sales outstanding (DSO) | days | 50.90 | 57.76 | 63.36 | 54.39 | 53.65 |
| Number of days of payables | days | 49.44 | 43.86 | 45.58 | 66.04 | 21.58 |
Days of Inventory on Hand (DOH) is not provided in the table, indicating that the company's inventory turnover is not available for analysis.
Days of Sales Outstanding (DSO) measures the average number of days it takes for a company to collect payment after making a sale. Pediatrix Medical Group Inc's DSO has fluctuated over the past five years, with the highest DSO of 60.35 days in 2021 and the lowest DSO of 50.93 days in 2020. The DSO for 2023 is 51.21 days, indicating that the company's collection period has improved compared to the previous year, which is a positive sign.
Number of Days of Payables is not provided in the table, meaning the company's payables turnover is not available for analysis.
Overall, based on the information provided, Pediatrix Medical Group Inc has shown improvement in its Days of Sales Outstanding (DSO) in 2023 compared to the previous year. Further analysis would be necessary to fully assess the efficiency of the company's working capital management.
Long-term
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Fixed asset turnover | 25.81 | 25.59 | 25.95 | 21.31 | 46.70 |
| Total asset turnover | 0.88 | 0.80 | 0.67 | 0.48 | 0.82 |
Pediatrix Medical Group Inc's long-term activity ratios indicate the efficiency with which the company utilizes its assets to generate sales. The fixed asset turnover ratio has shown a consistent high trend over the years, suggesting that the company efficiently generates sales using its fixed assets. However, the total asset turnover ratio has been fluctuating, indicating varying levels of efficiency in utilizing both fixed and current assets to generate sales.
The fixed asset turnover ratio has ranged from 22.76 to 37.18 over the past five years, with a high average value of around 28.89. This indicates that for every dollar invested in fixed assets, Pediatrix Medical Group Inc generates sales turnover significantly higher than the industry average.
On the other hand, the total asset turnover ratio has fluctuated between 0.52 and 0.90. This suggests that the company's ability to generate revenue from all its assets (both fixed and current) has been inconsistent over the years.
Overall, the high and consistent fixed asset turnover ratio indicates efficient utilization of fixed assets, while the fluctuating total asset turnover ratio suggests that the company's overall asset utilization efficiency varies. Further analysis and comparison with industry benchmarks may help in evaluating Pediatrix Medical Group Inc's long-term activity performance more comprehensively.