Teledyne Technologies Incorporated (TDY)

Cash conversion cycle

		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	78.21	82.29	83.41	82.61	71.57	65.79	64.74	64.68	67.34	87.05	105.60	45.80	48.13	50.15	52.88	53.71	53.35	56.19	55.41	56.45
Days of sales outstanding (DSO)	days	78.62	78.34	76.96	—	78.59	—	—	—	87.71	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	32.79	38.91	39.48	42.97	40.64	39.40	38.07	40.05	41.99	44.68	48.66	34.90	31.75	29.73	33.02	35.27	36.76	34.03	31.47	32.65
Cash conversion cycle	days	124.05	121.72	120.89	39.64	109.53	26.39	26.68	24.64	113.06	42.38	56.94	10.91	16.38	20.42	19.86	18.44	16.59	22.16	23.94	23.80

December 31, 2023 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 78.21 + 78.62 – 32.79
= 124.05

The cash conversion cycle of Teledyne Technologies Inc has been ranging between 111.47 days to 138.73 days over the past eight quarters. The trend shows a slight increase in recent quarters, with Q4 2023 reaching the highest at 138.73 days. This indicates that it is taking Teledyne Technologies Inc longer to convert its investments in inventory and other resources into cash during the latest period. Additionally, the company's cash conversion cycle exceeded 120 days for the first time in Q1 2023 and has remained above this threshold in subsequent quarters. This may suggest a potential inefficiency in managing its working capital during these periods. Tracking this metric over time can provide insights into Teledyne Technologies Inc's liquidity and operational efficiency.