SJW Corporation (SJW)

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 — 8.63 9.28 8.70 46.08 33.36 48.78 35.89 38.34 27.37 37.22 29.59 33.73 — — — 72.17 — — —
Receivables turnover 5.54 4.89 5.63 6.21 5.62 4.72 5.24 5.96 5.60 4.92 5.47 6.38 5.88 4.97 4.91 6.22 5.31 5.71 6.78 9.48
Payables turnover 10.70 13.42 12.73 17.49 15.19 14.53 15.98 15.02 13.72 11.16 10.48 15.86 11.93 12.40 16.60 15.31 10.34 11.91 11.92 14.48
Working capital turnover — — — — — — — — — — — — — — — — — 1.08 1.07 1.00

Based on the activity ratios provided for SJW Group, we can see the following analysis:

1. Receivables Turnover:
- SJW Group's receivables turnover has been relatively stable over the past eight quarters, ranging from 5.02 to 6.54.
- This indicates that the company is efficient in collecting outstanding payments from customers and converting accounts receivable into cash.
- A higher receivables turnover ratio suggests better liquidity and effective credit management by the company.

2. Payables Turnover:
- The payables turnover ratio for SJW Group has also been consistent, fluctuating between 6.47 and 8.99 over the last two years.
- A decreasing trend in payables turnover may indicate that the company is taking longer to pay its suppliers, which could lead to strained relationships.
- Conversely, a higher payables turnover ratio reflects that the company is quickly paying off its obligations, potentially improving its creditworthiness.

3. Inventory Turnover and Working Capital Turnover:
- The data provided does not include information on inventory turnover and working capital turnover for SJW Group, making it challenging to assess the efficiency of inventory management and the utilization of working capital by the company.
- These ratios are crucial in evaluating how effectively the company is managing its inventory levels and working capital to support its operations.

In summary, SJW Group appears to have strong efficiency in collecting receivables and managing payables based on the provided activity ratios. However, the absence of data on inventory turnover and working capital turnover limits a comprehensive analysis of the company's overall operational performance.

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 — 42.28 39.32 41.95 7.92 10.94 7.48 10.17 9.52 13.34 9.81 12.34 10.82 — — — 5.06 — — —
Days of sales outstanding (DSO) days 65.94 74.59 64.81 58.78 64.95 77.29 69.68 61.28 65.19 74.13 66.67 57.21 62.10 73.45 74.28 58.70 68.78 63.92 53.82 38.51
Number of days of payables days 34.12 27.20 28.66 20.86 24.03 25.12 22.84 24.30 26.60 32.72 34.84 23.02 30.59 29.45 21.99 23.84 35.29 30.66 30.62 25.20

The activity ratios for SJW Group indicate efficiency in managing inventory, collections from customers, and payments to suppliers.

The Days of Inventory on Hand (DOH) information is not available, which limits the analysis of how quickly inventory is sold or used.

Days of Sales Outstanding (DSO) show a fluctuating trend over the past eight quarters, with Q3 2023 showing the highest DSO at 72.21 days and Q1 2023 the lowest at 55.82 days. This suggests that SJW Group took longer to collect payments from customers in Q3 2023 compared to other quarters.

The Number of Days of Payables trend also varies, with Q4 2023 having the highest number of days at 65.71, indicating that SJW Group took longer to pay suppliers during that quarter. Q1 2023 had the lowest number of days at 40.61, indicating a quicker payment cycle to suppliers.

Overall, the company should further analyze its accounts receivable and payable processes to optimize cash flow management and potentially reduce the DSO and payables period to improve liquidity and efficiency in operations.

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 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.17 12.72 11.47 10.41 9.53 9.10 9.28 9.16
Total asset turnover 0.15 0.17 0.17 0.17 0.17 0.16 0.16 0.17 0.16 0.16 0.17 0.17 0.17 0.17 0.16 0.14 0.13 0.19 0.20 0.20

The fixed asset turnover ratio for SJW Group has been relatively stable over the past eight quarters, ranging from 0.21 to 0.25. This indicates that for every dollar invested in fixed assets, the company generates between $0.21 and $0.25 in revenue.

On the other hand, the total asset turnover ratio has also been consistent, fluctuating between 0.15 and 0.17. This ratio reflects how efficiently the company is utilizing all its assets to generate revenue.

Overall, the company's long-term activity ratios suggest that SJW Group has maintained a steady level of asset utilization efficiency over the past two years, with both fixed asset turnover and total asset turnover ratios remaining relatively stable.