Tidewater Inc (TDW)

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 — 37.20 36.96 26.17 28.15 31.19 28.00 20.33 27.81 24.48 35.34 36.72 33.75 29.10 32.30 33.96 30.71 26.87 22.90 21.95
Receivables turnover — — — 290.91 — — — — — — 44.11 — 4.81 4.96 5.36 5.36 6.52 7.03 3.79 3.75
Payables turnover 16.02 16.48 17.68 18.60 13.53 10.05 10.57 16.10 18.14 16.98 19.76 22.27 24.94 27.69 34.63 31.75 42.23 32.32 16.36 17.44
Working capital turnover 3.62 4.00 3.99 3.70 3.63 3.78 3.97 3.43 3.31 3.10 2.01 1.86 6.54 1.67 1.75 1.83 1.54 1.48 1.48 1.38

Inventory turnover for Tidewater Inc has shown fluctuation over the periods, ranging from 20.33 to 37.20. The higher turnover ratios indicate that the company is efficiently managing its inventory levels and converting them into sales. This trend suggests that Tidewater is effectively controlling its inventory and avoiding overstocking.

Receivables turnover, although not consistently available, has shown significant variability from 3.79 to 290.91. A high receivables turnover ratio indicates that the company is collecting its accounts receivable efficiently. Tidewater Inc's receivables turnover has been fluctuating, which could suggest changes in the company's credit policies, customer payment behavior, or industry dynamics.

Payables turnover has demonstrated a consistent range of 10.05 to 42.23, reflecting the company's ability to manage its accounts payable efficiently. A higher payables turnover signifies that Tidewater is paying its suppliers promptly, which can help maintain good relationships with suppliers and potentially negotiate favorable terms.

Working capital turnover has also displayed variability, ranging from 1.38 to 6.54, indicating how effectively the company is utilizing its working capital to generate sales. A higher turnover ratio suggests that Tidewater is efficiently using its working capital to support its operations and drive revenue growth.

Overall, Tidewater Inc's activity ratios reflect the company's management of inventory, receivables, payables, and working capital. Monitoring these ratios over time can provide insights into the company's operational efficiency and financial performance.

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 — 9.81 9.88 13.95 12.97 11.70 13.04 17.95 13.12 14.91 10.33 9.94 10.82 12.54 11.30 10.75 11.88 13.58 15.94 16.63
Days of sales outstanding (DSO) days — — — 1.25 — — — — — — 8.27 — 75.88 73.55 68.14 68.16 56.01 51.96 96.30 97.30
Number of days of payables days 22.78 22.15 20.65 19.62 26.97 36.32 34.54 22.68 20.12 21.50 18.47 16.39 14.63 13.18 10.54 11.50 8.64 11.29 22.31 20.93

Days of Inventory on Hand (DOH) measures how efficiently a company manages its inventory by indicating how many days on average it takes to sell inventory. Tidewater Inc's DOH has been fluctuating, with a decreasing trend over the recent quarters. The company's inventory turnover seems to have improved.

Days of Sales Outstanding (DSO) shows the average number of days it takes for a company to collect revenue after a sale is made. Tidewater Inc's DSO has been quite volatile, with a significant increase in the most recent quarter. This may indicate potential challenges in collecting receivables promptly.

Number of Days of Payables highlights how long it takes for a company to pay its suppliers. Tidewater Inc's payables period has been relatively stable, showing consistency in its payment practices.

Overall, Tidewater Inc's activity ratios suggest improvements in inventory management efficiency, while highlighting some variability in collections from customers. Monitoring these ratios over time can provide insights into the company's operational effectiveness and 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 1.05 0.98 0.86 0.74 0.65 0.98 0.92 0.79 0.66 0.53 0.55 0.50 0.46 0.44 0.44 0.48 0.52 0.55 0.53 0.62
Total asset turnover 0.62 0.59 0.53 0.47 0.43 0.57 0.54 0.48 0.42 0.34 0.35 0.31 0.29 0.28 0.28 0.30 0.32 0.33 0.31 0.31

Tidewater Inc's long-term activity ratios indicate how effectively the company is utilizing its assets to generate sales over time. The fixed asset turnover ratio has shown a fluctuating trend, starting at 0.62 in the past and reaching 1.05 in the most recent period, implying that Tidewater is deriving more revenue from its fixed assets. This improvement suggests better efficiency in generating sales from investments in property, plant, and equipment.

On the other hand, the total asset turnover ratio has also depicted volatility, with a similar pattern as the fixed asset turnover ratio but with lower values. Despite some fluctuations, the total asset turnover ratio has generally increased from 0.28 in the past to 0.62 in the most recent period, indicating that Tidewater has been utilizing its total assets more effectively to generate sales.

Overall, the upward trends in both fixed asset turnover and total asset turnover ratios suggest that Tidewater Inc has been enhancing its asset utilization efficiency over the analyzed periods. This indicates a positive development in the company's ability to generate sales relative to its investment in assets.