Myriad Genetics Inc (MYGN)

Activity ratios

Short-term

Turnover ratios

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 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Inventory turnover 25.98 29.81 33.70 36.73 36.62 30.95 28.79 25.66 36.14 37.52 40.19 35.81 32.72 26.92 24.52 22.82 22.94 21.93 21.91 19.43
Receivables turnover 6.75 6.49 6.52 6.35 6.23 5.81 6.65 8.03 7.57 8.26 9.27 7.12 6.22 5.85 6.73 8.84 7.14 6.58 6.75 6.06
Payables turnover 20.37 22.15 28.74 27.20 20.70 18.48 20.09 16.99 25.65 21.60 20.77 42.43 20.32 31.84 34.15 30.60 23.32 29.34 25.65 18.32
Working capital turnover 5.57 5.31 4.73 13.04 9.51 5.85 4.91 3.68 3.36 3.21 3.02 2.25 2.20 3.13 2.25 3.40 3.10 3.17 3.84 3.64

Myriad Genetics Inc has shown consistent efficiency in managing its inventory over the periods in review, with a gradual increase in the inventory turnover ratio. This indicates that the company is able to sell and replenish its inventory multiple times within a year, which may imply effective inventory management and demand for its products.

The receivables turnover ratio has fluctuated but generally remained at a healthy level, suggesting that the company efficiently collects payments from its customers. A higher turnover ratio indicates that Myriad Genetics is efficient in converting its credit sales into cash.

The payables turnover ratio has shown some variability, indicating fluctuations in the efficiency of paying its suppliers. A higher turnover ratio implies that the company is paying its trade creditors more quickly, which could either signify strong supplier relationships or a need to manage working capital.

The working capital turnover ratio has been inconsistent, with fluctuations observed over the periods reviewed. A higher ratio implies that the company is efficiently utilizing its working capital to generate sales. However, the variability in this ratio may indicate changes in operating efficiency or the need for better working capital management.

Overall, Myriad Genetics Inc demonstrates efficiency in managing its inventory and collecting receivables, though there are fluctuations in payables turnover and working capital turnover ratios that may require closer monitoring and management to ensure optimal performance.

Average number of days

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 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Days of inventory on hand (DOH) days 14.05 12.24 10.83 9.94 9.97 11.79 12.68 14.23 10.10 9.73 9.08 10.19 11.16 13.56 14.89 15.99 15.91 16.64 16.66 18.79
Days of sales outstanding (DSO) days 54.09 56.25 55.97 57.48 58.56 62.83 54.92 45.46 48.22 44.20 39.38 51.28 58.64 62.41 54.20 41.27 51.10 55.45 54.05 60.22
Number of days of payables days 17.92 16.48 12.70 13.42 17.63 19.75 18.16 21.48 14.23 16.90 17.57 8.60 17.96 11.46 10.69 11.93 15.65 12.44 14.23 19.92

The Days of Inventory on Hand (DOH) ratio for Myriad Genetics Inc has fluctuated over the past few quarters, ranging from a low of 9.08 days to a high of 18.79 days. This indicates the number of days it takes for the company to sell its inventory, with lower values generally suggesting efficient inventory management. The company has shown improvement in managing its inventory as the ratio decreased in the most recent quarters.

The Days of Sales Outstanding (DSO) ratio, which measures the average number of days it takes for the company to collect its accounts receivable, has also varied, with values ranging from 39.38 days to 62.83 days. A lower DSO is preferred as it indicates faster collection of receivables, and Myriad Genetics Inc has shown improvement in the latest quarters with lower DSO values compared to previous periods.

The Number of Days of Payables ratio reflects the average number of days it takes for the company to pay its suppliers. Myriad Genetics Inc has seen fluctuations in this ratio, with values ranging from 8.60 days to 21.48 days. A higher number of days of payables may indicate the company's ability to leverage its credit terms with suppliers. However, consistent monitoring is needed to ensure timely payments and maintain good supplier relationships.

Overall, the analysis of activity ratios suggests that Myriad Genetics Inc has been making progress in managing its inventory efficiently, collecting receivables more promptly, and optimizing its payment practices to suppliers. Continued focus on maintaining lower inventory holding periods, reducing DSO, and managing payables effectively will contribute to improved working capital management and overall financial performance.

Long-term

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 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Fixed asset turnover 6.83 6.47 6.26 6.06 6.22 7.18 8.10 12.16 15.74 18.38 19.46 15.35 13.66 12.51 15.98 16.97 20.22 21.96 14.95 14.66
Total asset turnover 0.73 0.69 0.65 0.64 0.59 0.59 0.56 0.68 0.69 0.67 0.64 0.50 0.43 0.42 0.41 0.45 0.52 0.51 0.52 0.54

Myriad Genetics Inc's long-term activity ratios provide insight into how efficiently the company is utilizing its assets to generate revenue.

1. Fixed Asset Turnover:
- Myriad Genetics Inc's fixed asset turnover has been consistently high over the periods presented, ranging from 6.06 to 19.46.
- The company's fixed assets are being effectively utilized to generate sales, with the ratio fluctuating but generally remaining at a healthy level.
- The increasing trend from 2019 to 2022 indicates improved efficiency in utilizing fixed assets to generate revenue.

2. Total Asset Turnover:
- Myriad Genetics Inc's total asset turnover ratio has also shown a generally increasing trend over the periods presented, ranging from 0.41 to 0.73.
- This indicates that the company is becoming more efficient in generating sales revenue relative to its total assets.
- The ratio has shown variability, which could be due to changes in the company's asset base or sales volume over time.

Overall, the upward trend in both fixed asset turnover and total asset turnover ratios indicates that Myriad Genetics Inc has been improving its efficiency in utilizing assets to generate revenue. This efficiency may be attributed to effective asset management strategies and operational improvements within the company.