National Fuel Gas Company (NFG)

Activity ratios

Short-term

Turnover ratios

Sep 30, 2024 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019
Inventory turnover 9.51 4.30 5.35 5.88 6.84 9.72 12.25 8.79 7.13 9.45 7.98 4.90 3.35 4.29 5.03 4.23 2.94 4.00 4.21 1.90
Receivables turnover — — 284.02 183.00 — — 194.90 53.22 — — 247.73 87.02 — — 627.02 78.71 — — 105.10 10.36
Payables turnover 4.77 2.66 3.18 4.16 3.66 6.49 5.31 3.52 2.91 3.38 3.24 2.64 1.70 2.51 2.72 3.12 1.87 2.79 2.24 1.05
Working capital turnover — — — — — — — — — — — — — — 29.57 — — 3.17 — —

The inventory turnover ratio for National Fuel Gas Company has shown fluctuations over the quarters, indicating varying efficiency in managing inventory levels. There was a notable improvement in inventory turnover in the most recent quarter of September 30, 2024, compared to the previous quarter. This suggests that the company is now selling its inventory more quickly, which could lead to reduced holding costs and potentially improved liquidity.

The receivables turnover ratio, while not consistently available in all quarters, demonstrates a significant increase in March 31, 2021, and December 31, 2020, indicating that the company was able to collect outstanding receivables more efficiently in those periods.

In terms of payables turnover, the company's ability to manage its payables has been relatively stable, with some fluctuations in different quarters. A higher payables turnover ratio generally indicates that the company is taking longer to pay its suppliers, which could potentially improve cash flow.

The absence of data for the working capital turnover ratio indicates that it may not be a metric actively tracked or reported by the company, limiting insights into how effectively the company is using its working capital to generate revenue.

Average number of days

Sep 30, 2024 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019
Days of inventory on hand (DOH) days 38.39 84.87 68.24 62.04 53.38 37.56 29.80 41.53 51.16 38.64 45.75 74.48 109.08 84.99 72.56 86.25 124.09 91.30 86.80 192.38
Days of sales outstanding (DSO) days — — 1.29 1.99 — — 1.87 6.86 — — 1.47 4.19 — — 0.58 4.64 — — 3.47 35.22
Number of days of payables days 76.60 137.38 114.91 87.66 99.69 56.22 68.79 103.80 125.40 108.06 112.56 138.02 214.66 145.70 134.35 117.16 195.32 130.69 162.92 347.18

The activity ratios of National Fuel Gas Company provide insights into how efficiently the company manages its inventory, receivables, and payables.

1. Days of Inventory on Hand (DOH): DOH measures the average number of days it takes for the company to sell its entire inventory. National Fuel Gas Company has shown fluctuating trends in its DOH over the past few quarters, ranging from as low as 29.80 days to as high as 192.38 days. A lower DOH indicates efficient inventory management, while a higher DOH may suggest overstocking or slow-moving inventory.

2. Days of Sales Outstanding (DSO): DSO reflects the average number of days it takes for the company to collect payment from its customers after a sale. National Fuel Gas Company has varied DSO figures, with values ranging from 0.58 days to 35.22 days. Lower DSO values imply efficient credit management and prompt payment collection, while higher values may indicate potential issues with accounts receivable collection.

3. Number of Days of Payables: This ratio indicates the number of days the company takes to pay its suppliers. National Fuel Gas Company's days of payables range from 56.22 days to 347.18 days over the reporting periods. A longer period suggests the company is taking longer to pay its suppliers, potentially indicating liquidity issues or a deliberate strategy to manage cash flow.

Overall, analyzing these activity ratios helps assess the efficiency of National Fuel Gas Company's operations, inventory management, working capital performance, and relationships with customers and suppliers. Periodic monitoring of these ratios can provide insights into the company's financial health and operational effectiveness.

Long-term

Sep 30, 2024 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019
Fixed asset turnover 0.26 0.26 0.26 0.27 0.30 0.32 0.34 0.34 0.33 0.33 0.30 0.28 0.27 0.27 0.26 0.26 0.26 0.28 0.29 0.29
Total asset turnover 0.23 0.23 0.23 0.24 0.26 0.28 0.29 0.28 0.28 0.26 0.26 0.24 0.23 0.23 0.23 0.22 0.22 0.22 0.24 0.25

The fixed asset turnover ratio for National Fuel Gas Company has been relatively stable around 0.26 to 0.34 over the past five quarters. This indicates that the company is generating sales revenue efficiently in relation to its investment in fixed assets such as property, plant, and equipment.

On the other hand, the total asset turnover ratio has also remained relatively consistent around 0.22 to 0.29 over the same period. This suggests that the company is generating revenue efficiently in relation to its total assets, including both fixed and current assets.

Overall, both the fixed asset turnover and total asset turnover ratios show that National Fuel Gas Company has been effectively utilizing its assets to generate sales revenue, although there may be some room for improvement in terms of increasing turnover ratios to potentially enhance operational efficiency.