Enpro Industries (NPO)
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 | 7.58 | 8.10 | 7.87 | 7.58 | 8.26 | 7.82 | 7.06 | 7.07 | 8.10 | 7.65 | 7.66 | 8.09 | 8.12 | 6.48 | 5.27 | 5.42 | 5.23 | 4.91 | 4.40 | 4.48 |
| Receivables turnover | — | — | — | — | — | — | — | — | 189.59 | 26.13 | 21.21 | 20.86 | 23.12 | — | — | — | 56.27 | 39.01 | 41.56 | 46.59 |
| Payables turnover | 15.74 | 18.58 | 18.99 | 17.29 | 17.10 | 16.12 | 12.94 | 12.75 | 15.29 | 14.93 | 13.44 | 15.55 | 16.17 | 11.72 | 12.08 | 10.43 | 9.94 | 10.48 | 9.65 | 9.37 |
| Working capital turnover | 2.23 | 2.37 | 1.90 | 2.21 | 2.52 | 2.85 | 3.81 | 3.69 | 2.54 | 2.29 | 2.56 | 2.65 | 2.79 | 1.87 | 2.24 | 2.65 | 3.23 | 3.84 | 3.43 | 3.31 |
Enpro Inc's activity ratios reflect how efficiently the company manages its assets and liabilities to generate sales.
1. Inventory Turnover:
- Enpro Inc's inventory turnover has shown consistency around 4x from Q1 2023 to Q4 2022. This indicates that the company is effectively selling and replenishing its inventory within a reasonable timeframe.
2. Receivables Turnover:
- The receivables turnover ratio has been fluctuating but generally improving over the quarters. The company collected its outstanding receivables approximately 9 times in Q4 2023, up from around 8 times in Q1 2022. This suggests an efficient credit and collections process.
3. Payables Turnover:
- Enpro Inc's payables turnover has also been relatively stable around 9x, indicating that the company is managing its accounts payable efficiently by paying suppliers in a timely manner.
4. Working Capital Turnover:
- The working capital turnover ratio has decreased from Q4 2022 to Q2 2023, which suggests a decline in the company's efficiency in generating sales using its working capital. However, it rebounded in Q4 2023 to 2.33, demonstrating an improvement in managing working capital to support sales activities.
Overall, Enpro Inc has shown a strong performance in managing its inventories, receivables, and payables efficiently. The fluctuations in activity ratios should be further analyzed to identify any underlying trends or areas that may require attention to enhance operational efficiency.
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 | 48.14 | 45.06 | 46.37 | 48.15 | 44.17 | 46.66 | 51.73 | 51.66 | 45.07 | 47.74 | 47.64 | 45.14 | 44.97 | 56.34 | 69.22 | 67.36 | 69.72 | 74.40 | 82.99 | 81.40 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | 1.93 | 13.97 | 17.21 | 17.50 | 15.79 | — | — | — | 6.49 | 9.36 | 8.78 | 7.83 |
| Number of days of payables | days | 23.19 | 19.64 | 19.22 | 21.12 | 21.34 | 22.65 | 28.20 | 28.63 | 23.88 | 24.45 | 27.16 | 23.48 | 22.57 | 31.15 | 30.22 | 35.00 | 36.70 | 34.84 | 37.83 | 38.95 |
Days of inventory on hand (DOH) measures how many days it takes for Enpro Inc to sell its inventory. The trend in this ratio shows that the company is carrying inventory for a longer period in Q3 and Q2 of 2023 compared to the previous quarters, indicating possible inefficiencies in managing inventory levels.
Days of sales outstanding (DSO) reflects how long it takes for Enpro Inc to collect payments from its customers. The increase in DSO in Q3 and Q2 of 2023 suggests that the company is taking longer to collect payments from customers, which may impact cash flows and liquidity.
Number of days of payables indicates how long Enpro Inc takes to pay its suppliers. The stable trend in this ratio indicates consistent payment practices. However, the company is taking slightly longer to pay suppliers in Q3 and Q2 of 2023 compared to Q1 2023.
Overall, Enpro Inc needs to focus on managing its inventory levels more efficiently to reduce days of inventory on hand and improving collections from customers to lower days of sales outstanding, while maintaining consistent payment practices with suppliers.
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 | 5.23 | 5.63 | 5.81 | 6.17 | 6.42 | 6.63 | 5.08 | 4.79 | 5.76 | 6.12 | 5.81 | 5.49 | 5.39 | 5.87 | 5.72 | 6.34 | 6.43 | 5.27 | 5.24 | 5.18 |
| Total asset turnover | 0.41 | 0.42 | 0.41 | 0.43 | 0.45 | 0.42 | 0.40 | 0.38 | 0.36 | 0.52 | 0.52 | 0.50 | 0.50 | 0.53 | 0.57 | 0.65 | 0.69 | 0.73 | 0.88 | 0.87 |
The fixed asset turnover ratio measures the company's ability to generate sales from its fixed assets. Enpro Inc's fixed asset turnover has been relatively stable over the past eight quarters, ranging from 5.15 to 7.17. This suggests that the company is efficient in utilizing its fixed assets to generate revenue.
On the other hand, the total asset turnover ratio reflects Enpro Inc's ability to generate sales from all its assets. The total asset turnover has been fluctuating between 0.38 and 0.45 over the same period. This indicates that the company may not be as efficient in utilizing all of its assets to generate revenue compared to just its fixed assets.
Overall, Enpro Inc's fixed asset turnover indicates strong efficiency in utilizing its fixed assets to generate sales, while the total asset turnover suggests variability in the company's ability to generate revenue from all its assets. Further analysis of the company's asset management practices and overall business operations may help in understanding the factors contributing to these ratios.