Standex International Corporation (SXI)
Days of sales outstanding (DSO)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 4.57 | 3.28 | 3.44 | 4.18 | 4.32 | 6.05 | 5.86 | 5.86 | 4.77 | 6.09 | 6.19 | 6.52 | 6.28 | 6.30 | 6.63 | 6.45 | 5.97 | 5.74 | 5.99 | 6.18 | |
| DSO | days | 79.78 | 111.36 | 106.17 | 87.22 | 84.46 | 60.35 | 62.29 | 62.28 | 76.55 | 59.97 | 58.95 | 55.99 | 58.11 | 57.95 | 55.06 | 56.55 | 61.12 | 63.64 | 60.94 | 59.06 |
June 30, 2025 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 4.57
= 79.78
The analysis of Standex International Corporation’s days of sales outstanding (DSO) over the specified period reveals several key trends and observations. Initially, from September 30, 2020, through December 31, 2022, the DSO remained relatively stable, fluctuating within a narrow range approximately between 55 and 63 days. During this period, the DSO experienced minor increases and decreases but generally maintained a level indicative of average collection periods in the mid to high fifties days, suggesting a relatively consistent and manageable receivables collection process.
A noticeable change occurs in the fiscal quarter ending June 30, 2023, where the DSO sharply increases to approximately 76.55 days, indicating a substantial elongation in the average time required to collect receivables. This upward trend continues into the subsequent quarter ending September 30, 2023, reaching approximately 62.28 days, which still reflects a significant increase compared to previous levels, but demonstrates some stabilization.
However, from the end of 2023 onward, the DSO exhibits a marked upward trajectory, with values surging dramatically. By December 31, 2024, the DSO escalates to approximately 106.17 days, and this upward trend persists into March 2025, reaching around 111.36 days. Even with some reduction to 79.78 days for June 30, 2025, the DSO remains substantially higher than historical averages, suggesting considerable delays in receivables collection or potential issues in portfolio management.
The trend indicates a significant deterioration in the company's receivables collection efficiency over the analyzed period, especially starting in late 2022 and accelerating through 2024. The progressive increase in DSO points toward longer credit terms extended to customers or increasing difficulties in collecting outstanding receivables, which could impact cash flow and liquidity position if these trends persist.
In summary, while Standex International maintained relatively stable collection periods through 2022, a concerning upward trend commenced in late 2022 and intensified through 2024, culminating in a notably extended collection period by March 2025. This shift warrants further investigation into credit policies, customer creditworthiness, and collection practices to understand underlying causes and mitigate potential operational risks.
Peer comparison
Jun 30, 2025