Spire Inc (SR)
Activity ratios
Short-term
Turnover ratios
| Sep 30, 2024 | Jun 30, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 1.17 | 1.32 | 1.38 | 1.05 | 1.02 | 1.03 | 1.21 | 0.65 | 0.56 | 0.78 | 1.34 | 2.78 | 4.46 | 6.13 | 7.90 | 7.59 | 7.59 | 10.84 | 13.34 | 7.93 |
| Receivables turnover | 14.37 | 10.82 | 5.96 | 5.82 | 13.88 | 9.42 | 5.19 | 5.02 | 10.38 | 7.39 | 4.75 | 4.75 | 6.71 | 6.52 | 4.81 | 6.37 | 14.97 | 12.84 | 7.49 | 7.21 |
| Payables turnover | 1.30 | 1.48 | 1.54 | 0.99 | 1.13 | 1.28 | 1.06 | 0.48 | 0.39 | 0.40 | 0.61 | 2.12 | 3.32 | 4.51 | 4.04 | 5.37 | 5.98 | 8.02 | 7.66 | 4.78 |
| Working capital turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Spire Inc's activity ratios over the past several quarters show fluctuations in the efficiency with which the company is managing its assets and liabilities.
- Inventory turnover has varied, indicating some variability in how quickly the company is selling its inventory. There was a significant decrease in inventory turnover from Q2 to Q4 of 2022, but it has been gradually increasing since then.
- Receivables turnover has also shown fluctuations, with a notable decrease in Q1 and Q2 of 2021 followed by some volatility in subsequent quarters. It seems that the company may have improved its collection process in recent quarters.
- Payables turnover has generally been stable, although there was a substantial increase in Q4 of 2021. This ratio indicates the efficiency of the company in managing its accounts payable.
- The working capital turnover has not been provided in the data, which means we cannot analyze the efficiency of Spire Inc in utilizing its working capital to generate sales.
Overall, Spire Inc's activity ratios suggest some level of inconsistency in managing its assets and liabilities efficiently, with fluctuations in inventory turnover, receivables turnover, and payables turnover over the quarters analyzed. Further analysis would be needed to understand the specific factors driving these fluctuations and to assess the company's overall operational efficiency.
Average number of days
| Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 311.73 | 275.91 | 263.71 | 346.94 | 356.58 | 353.37 | 301.66 | 558.67 | 646.83 | 470.23 | 272.05 | 131.32 | 81.81 | 59.54 | 46.20 | 48.12 | 48.08 | 33.68 | 27.37 | 46.02 |
| Days of sales outstanding (DSO) | days | 25.40 | 33.73 | 61.24 | 62.75 | 26.30 | 38.74 | 70.32 | 72.76 | 35.15 | 49.40 | 76.79 | 76.78 | 54.40 | 56.02 | 75.89 | 57.27 | 24.38 | 28.43 | 48.74 | 50.64 |
| Number of days of payables | days | 280.19 | 246.05 | 237.44 | 368.51 | 322.90 | 285.34 | 343.00 | 759.68 | 945.66 | 910.07 | 594.05 | 172.42 | 109.95 | 80.97 | 90.37 | 68.02 | 61.08 | 45.51 | 47.67 | 76.35 |
Days of inventory on hand (DOH) measures how many days on average it takes for a company to turn its inventory into sales. A higher DOH indicates slower inventory turnover, potentially tying up valuable capital in unsold inventory. Spire Inc's DOH has fluctuated over time, with a peak of 646.83 days on Sep 30, 2022, and a low of 27.37 days on Sep 30, 2019. The recent DOH of 311.73 days on Sep 30, 2024, suggests an increase in the time it takes for Spire Inc to convert inventory to sales.
Days of sales outstanding (DSO) shows the average number of days it takes for a company to collect payment after a sale. A higher DSO may indicate issues with collecting receivables efficiently. Spire Inc's DSO has varied, with a high of 76.79 days on Mar 31, 2022, and a low of 24.38 days on Dec 31, 2020. The current DSO of 25.40 days as of Sep 30, 2024, indicates a relatively efficient collection of receivables compared to previous periods.
Number of days of payables highlights how long a company takes to pay its suppliers. A longer period may suggest favorable terms or potential liquidity issues. Spire Inc's days of payables have shown volatility, ranging from 47.67 days on Sep 30, 2022, to a high of 945.66 days on Jun 30, 2022. The recent figure of 280.19 days as of Sep 30, 2024, indicates a moderate time taken to settle payables compared to prior periods.
Overall, the analysis of Spire Inc's activity ratios suggests fluctuations in inventory management, receivables collection, and payables settlement over the periods reviewed. It is essential for the company to monitor and optimize these ratios to ensure efficient working capital management and overall financial health.
Long-term
| Sep 30, 2024 | Jun 30, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 2.66 | 2.74 | 2.79 | 3.52 | 4.02 | 4.36 | 4.97 | 4.65 | 4.23 | 4.32 | 4.08 | 4.57 | 4.52 | 4.52 | 4.57 | 3.78 | 4.05 | 4.16 | 3.24 | 3.64 |
| Total asset turnover | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.25 | 0.26 | 0.23 | 0.21 | 0.21 | 0.21 | 0.22 | 0.23 | 0.24 | 0.23 | 0.20 | 0.21 | 0.22 | 0.22 | 0.24 |
The fixed asset turnover ratio for Spire Inc has shown a declining trend over the period under review, from a high of 4.97 in March 2023 to 2.66 in September 2024. This indicates that the company is generating less revenue relative to its investment in fixed assets. A lower fixed asset turnover may suggest inefficiency in asset utilization or a need for capital expenditures.
On the other hand, the total asset turnover ratio has remained relatively stable around the 0.23 to 0.25 range, indicating that the company has been able to generate consistent revenue relative to its total assets. This suggests that Spire Inc is effectively managing its total assets to generate sales.
Overall, while the total asset turnover reflects stable performance in utilizing all assets, the declining trend in fixed asset turnover raises some concerns about the efficiency of utilizing fixed assets to generate revenue. Spire Inc may need to evaluate its capital investment strategy and operational efficiency to improve the utilization of fixed assets and potentially enhance overall profitability.