Performance Food Group Co (PFGC)

Activity ratios

Short-term

Turnover ratios

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 Sep 30, 2019 Jun 30, 2019
Inventory turnover 16.72 15.53 14.65 15.18 15.81 15.19 14.98 13.44 13.38 11.25 10.60 14.83 15.64 16.21 15.25 14.52 12.55 15.16 13.53 12.90
Receivables turnover 23.67 24.41 23.85 23.37 — 25.02 — 21.66 — — — — — — — — — — — —
Payables turnover — — — — — — — — — — — — 15.93 23.36 15.95 13.99 16.48 19.65 16.07 15.48
Working capital turnover 25.29 23.35 21.26 22.65 23.89 23.26 23.99 21.23 22.01 18.68 16.09 28.72 30.81 22.44 21.80 29.90 16.30 11.95 10.98 20.26

Performance Food Group Co's inventory turnover has shown a generally increasing trend over the past two years, indicating that the company is selling its inventory more quickly. This signifies effective inventory management and strong sales performance.

The receivables turnover ratio has fluctuated slightly but has remained relatively stable, indicating that the company is efficiently collecting payments from its customers. The missing data for certain periods may suggest that there were no sales on credit during those times.

The payables turnover ratio has varied, with significant fluctuations evident in some quarters. However, the company appears to be managing its payments to suppliers more effectively in recent quarters, as indicated by the improvement in the turnover ratio.

Performance Food Group Co's working capital turnover has also shown fluctuations but has generally been on an increasing trend over the past two years. This indicates that the company has been utilizing its working capital more efficiently to generate sales.

Overall, based on the activity ratios analyzed, Performance Food Group Co appears to be effectively managing its inventory, receivables, payables, and working capital to support its sales activities and operational efficiency.

Average number of days

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 Sep 30, 2019 Jun 30, 2019
Days of inventory on hand (DOH) days 21.84 23.51 24.91 24.05 23.08 24.03 24.37 27.15 27.29 32.46 34.45 24.62 23.34 22.52 23.94 25.14 29.08 24.07 26.97 28.29
Days of sales outstanding (DSO) days 15.42 14.95 15.31 15.62 — 14.59 — 16.85 — — — — — — — — — — — —
Number of days of payables days — — — — — — — — — — — — 22.91 15.62 22.89 26.09 22.14 18.58 22.72 23.58

Performance Food Group Co's Days of Inventory on Hand (DOH) have been fluctuating over the past few quarters, ranging from a low of 21.84 days to a high of 34.45 days. A decreasing trend in DOH indicates an improvement in inventory management efficiency, while an increasing trend may suggest potential liquidity issues or slow-moving inventory.

Days of Sales Outstanding (DSO) show the average number of days it takes Performance Food Group Co to collect on its sales. The DSO has been relatively stable, with values varying between 14.59 days and 16.85 days. A lower DSO indicates faster collection of receivables, improving cash flow and liquidity.

The number of Days of Payables, which remains consistent in the range of 15.62 days to 26.09 days, represents the average number of days the company takes to pay its suppliers. A longer period suggests the company is effectively using trade credit to manage its working capital. However, excessively long payment periods may strain supplier relationships.

In summary, Performance Food Group Co appears to have maintained efficient inventory management, timely collections from customers, and steady payment practices to suppliers based on the analysis of its activity ratios over the recent quarters.

Long-term

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 Sep 30, 2019 Jun 30, 2019
Fixed asset turnover 22.45 23.38 24.19 25.19 25.84 26.00 25.87 23.76 21.59 18.82 16.97 19.03 17.20 17.17 17.03 16.88 16.95 23.21 22.11 20.70
Total asset turnover 4.48 4.46 4.44 4.56 4.66 4.60 4.52 4.10 3.79 3.31 2.90 3.86 3.59 3.54 3.33 3.23 3.19 3.73 3.47 4.23

Performance Food Group Co's long-term activity ratios show the efficiency of the company in utilizing its assets to generate sales.

1. Fixed asset turnover: This ratio measures how efficiently the company is generating revenue from its fixed assets. Performance Food Group Co's fixed asset turnover has been relatively stable over the period, ranging from 16.88 to 26.00. An increasing trend indicates improved efficiency in utilizing fixed assets to generate sales. The company's fixed asset turnover has been on an increasing trend, suggesting that the company is effectively utilizing its fixed assets to generate revenues.

2. Total asset turnover: This ratio measures the efficiency of the company in generating sales from all its assets. Performance Food Group Co's total asset turnover has fluctuated over the period, ranging from 2.90 to 4.66. A higher total asset turnover indicates that the company is generating more revenue relative to its total assets. While there have been fluctuations, the overall trend seems to show improvement in the company's ability to generate sales from its total assets.

Overall, both fixed asset turnover and total asset turnover ratios indicate that Performance Food Group Co has been efficiently utilizing its assets to generate sales, with a noticeable improvement in recent periods. This suggests good operational efficiency and effective management of assets to drive revenue growth.