SPX Corp (SPXC)
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 | 5.12 | 3.54 | 3.24 | 3.47 | 3.97 | 3.62 | 3.90 | 3.95 | 4.41 | 7.29 | 8.13 | 7.92 | 9.15 | 7.83 | 7.74 | 8.08 | 9.14 | 8.98 | 9.19 | 9.50 |
| Receivables turnover | 6.12 | 5.53 | 5.75 | — | 5.54 | — | — | — | 5.25 | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | 11.93 | 7.83 | 7.40 | 7.68 | 7.78 | 7.68 | 7.92 | 7.85 | 6.99 | 11.06 | 14.77 | 9.95 | 13.89 | 10.44 | 10.20 | 9.55 | 10.03 | 10.69 | 10.51 | 10.12 |
| Working capital turnover | 5.55 | 6.13 | 6.49 | 3.65 | 3.77 | 2.98 | 3.16 | 2.94 | 2.63 | 2.14 | 6.66 | 12.54 | 13.98 | 17.78 | 23.65 | 36.66 | 64.25 | 15.68 | 19.10 | 32.25 |
SPX Corp's inventory turnover has been relatively stable over the periods analyzed, with a range of 3.24 to 5.12. This indicates that the company efficiently manages its inventory levels and is able to turn over its inventory multiple times within a year.
The receivables turnover ratio also shows consistency in the range of 5.25 to 6.12, reflecting the company's ability to collect outstanding receivables efficiently. However, there are missing data points for this ratio in certain periods, which could imply variability in the collection periods or changes in credit policies.
The payables turnover ratio has been relatively steady, ranging from 6.99 to 14.77. A higher payables turnover indicates that the company is paying its suppliers more frequently, which could potentially impact relationships with suppliers but may also reflect good working capital management.
The working capital turnover ratio shows significant variability, ranging from 2.14 to 64.25. A high working capital turnover ratio indicates efficient use of working capital to generate sales, while a low ratio could signal inefficiencies. The company's working capital turnover seems to fluctuate significantly, potentially indicating changes in operational efficiency or business activities.
Overall, SPX Corp's activity ratios suggest that the company effectively manages its inventory, receivables, payables, and working capital, with some fluctuations in working capital turnover that may warrant further investigation into the underlying factors driving these changes.
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 | 71.33 | 103.23 | 112.74 | 105.16 | 91.91 | 100.69 | 93.50 | 92.49 | 82.84 | 50.07 | 44.90 | 46.11 | 39.90 | 46.62 | 47.13 | 45.20 | 39.93 | 40.65 | 39.73 | 38.44 |
| Days of sales outstanding (DSO) | days | 59.66 | 65.98 | 63.52 | — | 65.83 | — | — | — | 69.47 | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | 30.60 | 46.64 | 49.29 | 47.50 | 46.90 | 47.54 | 46.08 | 46.52 | 52.20 | 33.02 | 24.71 | 36.68 | 26.28 | 34.97 | 35.79 | 38.20 | 36.39 | 34.15 | 34.72 | 36.08 |
Days of inventory on hand (DOH) measures how long it takes for a company to sell its inventory. A higher number of days indicates slower inventory turnover, which could tie up capital and increase carrying costs. SPX Corp's DOH has varied over time, with a peak of 112.74 days in June 2023 and a low of 38.44 days in March 2019. The recent trend shows an increase in DOH, reaching 71.33 days on December 31, 2023.
Days of sales outstanding (DSO) calculates the average number of days it takes for a company to collect revenue after a sale is made. A higher DSO suggests slower collections and potential cash flow issues. While there are missing data points, the available figures for SPX Corp show fluctuations in DSO, ranging from 59.66 days to 69.47 days. More complete data would be needed to assess the overall trend.
Number of days of payables measures the average number of days it takes for a company to pay its suppliers. A longer period suggests better liquidity for the company. SPX Corp's payables days have also varied, with a peak of 52.20 days in December 2021 and a low of 24.71 days in June 2021. As of December 31, 2023, the company had 30.60 days of payables outstanding, indicating a moderate level of liquidity.
Overall, the analysis of SPX Corp's activity ratios suggests that the company has experienced fluctuations in inventory management, sales collection efficiency, and payment practices over the past few years. Monitoring these ratios can provide valuable insights into the company's operational efficiency and financial health.
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 | 12.23 | 12.48 | 12.01 | 14.09 | 13.38 | 12.91 | 11.83 | 11.20 | 10.86 | 11.28 | 11.42 | 7.30 | 13.81 | 8.19 | 8.63 | 8.68 | 8.43 | 8.51 | 8.62 | 10.62 |
| Total asset turnover | 0.70 | 0.68 | 0.65 | 0.77 | 0.76 | 0.56 | 0.52 | 0.48 | 0.46 | 0.49 | 0.54 | 0.59 | 0.62 | 0.68 | 0.68 | 0.69 | 0.70 | 0.73 | 0.73 | 0.90 |
The fixed asset turnover ratio measures how efficiently a company utilizes its fixed assets to generate revenue. A higher ratio indicates better utilization of fixed assets.
Looking at the trend for SPX Corp's fixed asset turnover ratio over the past few quarters, we observe a relatively stable performance, with fluctuations but generally maintaining a range between 10 and 14. This suggests that the company is effectively leveraging its fixed assets to generate revenue.
On the other hand, the total asset turnover ratio reflects the company's overall efficiency in generating sales from all its assets. A higher ratio implies better asset utilization.
The total asset turnover ratio for SPX Corp has shown some variability over the quarters, with fluctuations between 0.46 and 0.77. This indicates some inconsistency in the company's ability to generate sales from its total assets.
In summary, SPX Corp has been relatively efficient in utilizing its fixed assets to generate revenue, as reflected in its stable fixed asset turnover ratio. However, there is room for improvement in terms of overall asset utilization, as indicated by the fluctuations in the total asset turnover ratio. Further analysis and investigation into the factors contributing to these fluctuations may help in identifying areas for improvement in asset management and operational efficiency.