TTM Technologies Inc (TTMI)

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 9.77 10.28 11.55 12.57 13.55 11.14 10.45 15.53 16.34 14.53 16.33 17.20 17.79 17.50 19.25 19.15 20.58 18.55 19.36 22.27
Receivables turnover 10.72 12.29 12.67 — 10.59 — — — 11.47 10.83 10.97 11.31 10.83 13.09 12.34 11.05 10.14 9.92 — —
Payables turnover 6.22 6.31 7.04 7.10 6.39 5.63 5.16 5.56 5.77 5.26 5.67 6.19 6.29 6.54 6.72 7.48 7.10 4.98 5.46 6.02
Working capital turnover 6.11 7.23 6.68 6.64 6.85 6.71 6.92 5.31 5.22 4.91 4.89 5.04 5.65 7.03 7.58 5.98 12.89 8.60 9.36 9.76

TTM Technologies Inc's activity ratios provide insights into how efficiently the company manages its assets and operations.

1. Inventory Turnover:
- The inventory turnover has generally been increasing over the past years, indicating that TTM is effectively selling off its inventory. A higher inventory turnover ratio suggests that the company is efficiently managing its inventory levels.

2. Receivables Turnover:
- The receivables turnover has varied over time, with some missing data points. However, the ratios indicate that TTM is collecting its accounts receivable at a relatively steady pace, with occasional fluctuations.

3. Payables Turnover:
- TTM's payables turnover ratio has also shown fluctuations, but overall, the company is efficiently managing its trade payables. A higher payables turnover ratio suggests that TTM is taking longer to pay its suppliers, which can be advantageous for cash flow management.

4. Working Capital Turnover:
- The working capital turnover ratio has fluctuated over the years. This ratio indicates how effectively TTM is using its working capital to generate revenue. A higher working capital turnover ratio suggests that the company is efficiently using its current assets to support sales.

Overall, consistent improvement in inventory turnover and relatively stable performance in receivables and payables turnover indicate that TTM Technologies Inc is managing its operational activities efficiently.

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 37.36 35.51 31.61 29.04 26.93 32.75 34.92 23.50 22.34 25.12 22.35 21.23 20.52 20.86 18.96 19.06 17.74 19.67 18.86 16.39
Days of sales outstanding (DSO) days 34.04 29.70 28.81 — 34.48 — — — 31.82 33.69 33.28 32.27 33.71 27.87 29.58 33.03 36.01 36.79 — —
Number of days of payables days 58.68 57.88 51.84 51.41 57.09 64.88 70.71 65.69 63.27 69.37 64.40 59.01 58.03 55.83 54.30 48.79 51.43 73.23 66.83 60.58

TTM Technologies Inc's days of inventory on hand (DOH) has shown a fluctuating trend over the periods presented, with a gradual increase from March 2020 to December 2023. The company's ability to turn inventory into sales decreased initially but has improved in recent quarters, indicating better inventory management.

Days of sales outstanding (DSO) depicts the average number of days it takes for the company to collect revenue after a sale is made. The data available is inconsistent, with significant gaps in information. However, a lower DSO is generally preferable as it signifies faster cash conversion from sales.

The number of days of payables measures how long it takes for the company to pay its suppliers. TTM Technologies Inc has seen fluctuations in this metric over the periods presented. A higher number of days of payables indicates that the company is taking longer to pay its bills, potentially signaling liquidity challenges or strategic stretching of payables.

Overall, further analysis and trend monitoring of these activity ratios will be necessary to assess TTM Technologies Inc's efficiency in managing its inventory, accounts receivable, and accounts payable effectively.

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 5.49 5.94 6.91 6.98 6.92 6.27 6.09 6.79 6.66 6.28 6.38 6.37 6.35 7.50 7.74 7.60 7.53 5.11 5.11 5.29
Total asset turnover 1.33 1.47 1.56 1.57 1.51 1.42 1.42 1.48 1.46 1.38 1.37 1.40 1.43 1.56 1.42 1.44 1.43 1.50 1.54 1.61

TTM Technologies Inc's fixed asset turnover ratio has been relatively stable over the past five quarters, ranging from 5.11 to 7.74. This indicates that the company is generating between 5.11 to 7.74 USD in revenue for every USD invested in fixed assets. The increasing trend in fixed asset turnover from the end of 2019 to 2023 suggests improved efficiency in utilizing fixed assets to generate sales.

On the other hand, the total asset turnover ratio has shown more variability, ranging from 1.33 to 1.61 over the same period. This ratio measures how efficiently the company is using all its assets to generate revenue. The increasing trend in total asset turnover indicates that TTM Technologies Inc has been able to generate more revenue relative to its total assets, suggesting improved asset utilization.

Overall, the trend in both fixed asset turnover and total asset turnover ratios suggests that TTM Technologies Inc has been effectively utilizing its assets to generate sales, which is a positive indicator of operational efficiency and financial performance.