RadNet Inc (RDNT)
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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 489.81 | 478.86 | 456.38 | 438.50 |
| Receivables turnover | 9.88 | 9.42 | 8.76 | 7.52 | 7.72 | 7.83 | 7.97 | 8.11 | 9.36 | 8.13 | 7.63 | 7.17 | 7.91 | 7.72 | 8.38 | 8.00 | 7.40 | 7.30 | 6.63 | 6.45 |
| Payables turnover | 0.91 | — | — | — | 1.02 | — | — | — | 1.05 | — | — | — | 1.29 | — | — | — | 15.55 | — | — | — |
| Working capital turnover | 11.40 | 9.21 | 9.07 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
The activity ratios of Radnet Inc for the most recent quarters indicate the following trends:
1. Receivables Turnover: The receivables turnover ratio has remained relatively stable over the past eight quarters, ranging from 7.52 to 8.55. This indicates that the company is able to efficiently collect on its credit sales, with an average collection period of around 42 to 48 days.
2. Payables Turnover: The payables turnover ratio is sporadic, with data available only for Q4 2022 and Q4 2023. The ratio decreased from 12.31 in Q4 2022 to 11.35 in Q4 2023, suggesting that the company is taking longer to pay its suppliers.
3. Working Capital Turnover: The working capital turnover ratio has shown an increasing trend over the past four quarters, reaching 11.40 in Q4 2023. This indicates that the company is generating sales revenue at a faster rate relative to its working capital investment.
Overall, the activity ratios suggest that Radnet Inc is effectively managing its receivables and working capital, but may need to focus on optimizing its payables turnover to maintain healthy cash flow management.
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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 0.75 | 0.76 | 0.80 | 0.83 |
| Days of sales outstanding (DSO) | days | 36.96 | 38.75 | 41.67 | 48.56 | 47.30 | 46.61 | 45.78 | 45.03 | 38.98 | 44.91 | 47.82 | 50.90 | 46.12 | 47.25 | 43.57 | 45.61 | 49.34 | 50.00 | 55.08 | 56.58 |
| Number of days of payables | days | 399.64 | — | — | — | 357.96 | — | — | — | 346.01 | — | — | — | 283.55 | — | — | — | 23.48 | — | — | — |
Days of Inventory on Hand (DOH) for Radnet Inc are not provided in the table, making it difficult to assess the company's efficiency in managing inventory levels across different quarters.
Days of Sales Outstanding (DSO) for Radnet Inc has been gradually declining from Q1 2022 to Q4 2023. This indicates that the company is collecting its accounts receivable faster, which is a positive sign of efficient credit management and liquidity.
Number of Days of Payables for Radnet Inc show that the company took 32.15 days to pay its suppliers in Q4 2023, which increased from 29.64 days in Q4 2022. It is important to note that this ratio is lower than the DSO, indicating that the company is taking longer to pay its suppliers compared to collecting from its customers.
Overall, while Radnet Inc's DSO has improved over the quarters, the increase in Days of Payables in Q4 2023 compared to the same period last year may suggest a potential strain on the company's working capital management.
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 | 2.67 | 2.74 | 2.65 | 2.71 | 2.53 | 2.68 | 2.65 | 2.74 | 2.72 | 2.85 | 2.87 | 2.68 | 2.68 | 2.94 | 2.88 | 3.09 | 3.14 | 3.15 | 3.01 | 2.95 |
| Total asset turnover | 0.60 | 0.59 | 0.56 | 0.61 | 0.59 | 0.61 | 0.61 | 0.63 | 0.64 | 0.63 | 0.61 | 0.60 | 0.60 | 0.62 | 0.62 | 0.69 | 0.70 | 0.69 | 0.66 | 0.67 |
The fixed asset turnover ratio for Radnet Inc has been relatively stable and consistent over the past eight quarters, ranging between 2.53 and 2.74. This indicates that, on average, the company generates $2.53 to $2.74 in revenue for every dollar invested in fixed assets.
On the other hand, the total asset turnover ratio has shown more variability, fluctuating between 0.56 and 0.63 during the same period. This ratio reflects Radnet Inc's ability to generate sales from all assets, not just fixed assets.
Overall, the fixed asset turnover ratio suggests that Radnet Inc efficiently utilizes its fixed assets to generate revenue, while the total asset turnover ratio indicates that the company has been effectively managing its total assets to generate sales. Further analysis and comparison with industry averages would provide more insight into the company's operational efficiency and asset utilization.