RBC Bearings Incorporated (RBC)

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 1.43 1.40 1.37 1.03 0.69 0.69 0.71 0.91 1.14 0.91 1.02 1.00 1.03 1.13 1.26 1.41 1.55 1.57 1.59 1.62
Receivables turnover 6.11 6.71 6.21 5.97 6.13 6.68 — — 3.81 — — — 5.51 5.97 6.17 6.20 5.85 6.20 5.78 5.68
Payables turnover 7.66 7.13 6.44 4.44 2.75 2.90 2.66 3.05 3.69 3.29 7.96 8.67 10.32 10.54 11.87 10.12 11.20 11.33 11.11 10.79
Working capital turnover 2.32 2.31 2.34 2.43 2.43 2.32 2.23 1.95 1.45 1.16 0.36 0.88 0.95 1.05 1.16 1.30 1.49 1.66 1.74 1.78

RBC Bearings Incorporated's inventory turnover ratio has been relatively stable over the past few quarters, ranging from 0.69 to 1.43. This indicates that the company is managing its inventory efficiently, although there was a notable increase in the ratio from the first to the second quarter of 2024.

The receivables turnover ratio reflects how quickly the company collects payments from its customers. RBC Bearings' ratio has fluctuated but generally remained within a healthy range of 5.85 to 6.71, suggesting effective management of accounts receivable.

The payables turnover ratio measures how quickly the company pays its suppliers. RBC Bearings' ratio has varied significantly, ranging from 2.75 to 11.87. The higher ratios indicate that the company is taking longer to pay its suppliers.

The working capital turnover ratio has also shown some variability, ranging from 0.36 to 2.43. This ratio reflects the company's ability to generate revenue relative to its working capital. RBC Bearings' ratio has generally been above 1, indicating that the company is effectively using its working capital to generate sales.

In summary, RBC Bearings appears to be managing its inventory efficiently, collecting payments from customers in a timely manner, and effectively utilizing its working capital. However, the notable fluctuations in the payables turnover ratio may warrant further investigation into the company's payment practices and relationships with suppliers.

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 255.48 260.44 266.84 353.96 531.70 531.79 515.04 400.87 321.57 402.78 357.06 364.57 354.53 322.80 288.55 258.37 234.73 232.45 229.09 224.66
Days of sales outstanding (DSO) days 59.70 54.43 58.79 61.18 59.52 54.62 — — 95.80 — — — 66.21 61.12 59.17 58.87 62.38 58.91 63.19 64.27
Number of days of payables days 47.67 51.17 56.67 82.14 132.92 125.87 137.46 119.68 98.82 110.82 45.84 42.08 35.38 34.64 30.75 36.08 32.60 32.23 32.87 33.83

Days of inventory on hand (DOH) for RBC Bearings Incorporated has been fluctuating over the past few quarters, ranging from 224.66 days to 531.79 days. This indicates that the company has improved its inventory management efficiency in recent quarters, as the number of days of inventory held has generally decreased.

Days of sales outstanding (DSO), which measures how quickly the company collects its receivables, has also shown some variability. The DSO has ranged from 54.43 days to 95.80 days. Lower DSO values suggest that the company is collecting its receivables more efficiently, translating to improved cash flow and liquidity.

The number of days of payables, indicating how long the company takes to pay its suppliers, has fluctuated as well, ranging from 30.75 days to 137.46 days. Lower days of payables suggest that the company is managing its payables effectively, potentially using supplier credit to its advantage. However, higher days of payables could indicate cash flow challenges or strained supplier relationships.

In summary, RBC Bearings Inc.'s activity ratios indicate improvements in inventory management efficiency and receivables collection over the quarters analyzed. However, the company's management of payables has been less consistent, potentially warranting further investigation into its supplier relationships and cash flow management practices.

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 4.32 4.22 4.15 4.05 3.92 3.82 3.57 2.97 2.44 1.88 3.07 2.95 2.92 2.99 3.11 3.22 3.43 3.39 3.40 3.43
Total asset turnover 0.33 0.33 0.32 0.32 0.31 0.31 0.29 0.24 0.19 0.15 0.24 0.41 0.42 0.45 0.49 0.52 0.57 0.59 0.60 0.62

The fixed asset turnover ratio for RBC Bearings Incorporated has been relatively stable over the past few quarters, ranging from 4.05 to 4.32. This indicates that the company generates approximately $4.05 to $4.32 in sales for every dollar invested in fixed assets. The consistent high fixed asset turnover suggests that RBC Bearings is effectively utilizing its fixed assets to generate revenue.

On the other hand, the total asset turnover ratio has also shown consistency, albeit at a lower level compared to the fixed asset turnover. The total asset turnover ratio has ranged from 0.15 to 0.33, with an average of around 0.31. This indicates that the company generates approximately $0.15 to $0.33 in sales for every dollar of total assets it holds. While the total asset turnover is lower than the fixed asset turnover, it still shows that RBC Bearings is efficiently generating revenue relative to its total asset base.

Overall, RBC Bearings Incorporated appears to be effectively managing its assets to generate revenue, with both fixed asset turnover and total asset turnover ratios reflecting efficient asset utilization.