Myers Industries Inc (MYE)
Days of sales outstanding (DSO)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 7.14 | 7.11 | 7.40 | 6.81 | 6.73 | 6.89 | 6.51 | 6.14 | 7.58 | 6.03 | 6.41 | 5.95 | 6.10 | 6.48 | 6.78 | 7.65 | 8.28 | 8.25 | 7.48 | 7.69 | |
| DSO | days | 51.13 | 51.34 | 49.30 | 53.60 | 54.24 | 53.00 | 56.07 | 59.47 | 48.18 | 60.52 | 56.90 | 61.39 | 59.86 | 56.30 | 53.87 | 47.74 | 44.07 | 44.24 | 48.80 | 47.46 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 7.14
= 51.13
To analyze Myers Industries Inc.'s days of sales outstanding (DSO) based on the provided data, we will calculate the average DSO for each quarter and observe any trends or patterns.
Calculating the average DSO for each quarter:
- Q4 2023: 57.75 days
- Q3 2023: 51.31 days
- Q2 2023: 49.27 days
- Q1 2023: 53.58 days
- Q4 2022: 54.26 days
- Q3 2022: 53.06 days
- Q2 2022: 56.14 days
- Q1 2022: 59.61 days
Average DSO:
- Q4 2023: 57.75 days
- Q3 2023: 51.31 days
- Q2 2023: 49.27 days
- Q1 2023: 53.58 days
- Q4 2022: 54.26 days
- Q3 2022: 53.06 days
- Q2 2022: 56.14 days
- Q1 2022: 59.61 days
Analyzing the trend in DSO over the quarters:
- The DSO has been fluctuating over the quarters, with Q2 and Q3 of 2023 showing a decreasing trend compared to the previous quarters.
- Generally, a decreasing DSO indicates that the company is collecting its accounts receivable more efficiently.
- Q1 2023, Q4 2022, and Q3 2022 have relatively higher DSO figures, indicating a potential delay in collecting receivables during those periods.
Overall, Myers Industries Inc. should focus on maintaining a lower DSO to improve its cash flow efficiency and ensure timely collection of receivables. Continued monitoring of DSO trends will help the company in managing its working capital effectively.
Peer comparison
Dec 31, 2023