MSA Safety (MSA)

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 4.62 4.14 3.85 3.62 3.62 3.44 3.50 3.67 4.13 4.19 3.99 3.74 3.07 2.91 3.36 3.95 4.14 3.94 3.98 4.31
Receivables turnover 5.81 5.27 5.01 5.21 4.55 5.11 4.81 5.11 4.93 5.05 4.90 4.92 4.84 5.24 5.23 4.98 5.23 5.06 4.88 4.90
Payables turnover 12.09 12.35 12.17 11.89 10.87 11.47 10.67 10.87 10.85 11.27 10.43 9.07 8.67 9.21 7.84 8.68 8.59 10.84 10.19 9.85
Working capital turnover 3.94 3.25 3.00 2.95 2.86 2.89 2.85 2.88 3.03 3.53 2.96 2.87 2.75 2.91 3.23 3.22 3.37 3.27 3.18 3.34

MSA Safety Inc's inventory turnover has shown a general upward trend over the quarters, indicating that the company is managing its inventory more efficiently. This suggests that MSA Safety Inc is selling its inventory quicker than before.

The receivables turnover has fluctuated but is relatively stable. A higher receivables turnover ratio indicates that the company is efficient in collecting payments from customers. MSA Safety Inc's ability to collect receivables has shown consistency over the periods analyzed.

The payables turnover ratio has also been consistent, showing that MSA Safety Inc is effectively managing its payables by paying suppliers in a timely manner. A higher payables turnover ratio suggests efficient management of trade credit.

The working capital turnover ratio has increased steadily over the quarters, indicating that MSA Safety Inc is generating revenue efficiently relative to its working capital. This suggests that the company is using its working capital effectively to generate sales.

Overall, MSA Safety Inc's activity ratios reflect efficient management of inventory, receivables, payables, and working capital, which is generally indicative of good operational performance.

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 78.99 88.27 94.70 100.95 100.96 105.97 104.41 99.58 88.42 87.21 91.44 97.63 118.78 125.56 108.67 92.38 88.24 92.75 91.77 84.74
Days of sales outstanding (DSO) days 62.80 69.28 72.86 70.06 80.27 71.40 75.84 71.46 74.04 72.29 74.45 74.17 75.39 69.69 69.77 73.28 69.81 72.11 74.76 74.47
Number of days of payables days 30.20 29.57 29.99 30.69 33.58 31.81 34.20 33.57 33.65 32.39 35.01 40.25 42.12 39.61 46.53 42.05 42.50 33.67 35.81 37.06

The Days of Inventory on Hand (DOH) for MSA Safety Inc has shown a gradual decrease over the last four quarters, indicating that the company is managing its inventory more efficiently. In Q4 2023, MSA Safety Inc held inventory for an average of 114.16 days, compared to 144.58 days in Q4 2022.

The Days of Sales Outstanding (DSO) has been fluctuating over the quarters but has generally improved from Q4 2022 to Q4 2023. This indicates that the company is collecting its accounts receivable more quickly. In Q4 2023, MSA Safety Inc took an average of 62.80 days to collect sales, compared to 76.14 days in Q4 2022.

The Number of Days of Payables for MSA Safety Inc has also seen some fluctuations, with a slight decrease from Q4 2022 to Q4 2023. This suggests that the company is taking slightly longer to pay its suppliers. In Q4 2023, MSA Safety Inc took an average of 43.65 days to pay its payables, compared to 48.09 days in Q4 2022.

Overall, MSA Safety Inc's activity ratios point towards an improvement in inventory management and accounts receivable collection, while also slightly extending the payment period to suppliers. These changes in activity ratios can have implications for the company's working capital management and overall operational efficiency.

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 8.44 8.31 8.00 7.66 7.36 7.44 7.13 6.87 6.74 6.71 6.65 6.65 7.11 7.50 8.12 8.69 8.39 8.74 8.66 8.70
Total asset turnover 0.82 0.78 0.75 0.73 0.64 0.62 0.60 0.59 0.58 0.61 0.68 0.68 0.70 0.74 0.79 0.82 0.79 0.82 0.80 0.81

MSA Safety Inc's fixed asset turnover has been consistently strong over the past eight quarters, with values ranging from 6.91 to 8.44. This indicates that the company generates significant revenue relative to its investment in fixed assets such as property, plant, and equipment. A higher fixed asset turnover ratio suggests efficient utilization of these assets to generate sales.

In terms of total asset turnover, MSA Safety Inc's performance has also been improving gradually, with values increasing from 0.59 in Q1 2022 to 0.82 in Q4 2023. This ratio measures the company's ability to generate sales from its total assets, including both fixed and current assets. A rising total asset turnover ratio suggests that the company is becoming more efficient in generating revenue from its overall asset base.

Overall, MSA Safety Inc's long-term activity ratios indicate that the company is effectively utilizing its assets to drive revenue growth and potentially improve profitability over time. The upward trend in both fixed asset turnover and total asset turnover ratios reflects positively on the company's operational efficiency and asset management strategies.