ViaSat Inc (VSAT)
Activity ratios
Short-term
Turnover ratios
| 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 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 10.53 | 9.88 | 9.69 | 9.58 | 9.21 | 7.27 | 6.62 | 5.84 | 7.06 | 7.29 | 7.85 | 5.44 | 5.67 | 5.21 | 4.98 | 4.67 | 4.65 | 4.70 | 4.77 | 5.15 |
| Receivables turnover | — | 6.75 | 5.79 | 5.28 | 4.56 | 2.63 | 5.00 | 4.37 | 6.32 | 7.29 | 8.61 | 7.53 | 7.76 | 7.39 | 6.87 | 6.56 | 9.45 | 11.11 | 9.07 | 8.51 |
| Payables turnover | — | 14.47 | 12.84 | 13.69 | 10.20 | 8.17 | 5.88 | 5.19 | 6.98 | 6.34 | 7.83 | 7.99 | 8.86 | 7.33 | 8.97 | 8.00 | 10.78 | 12.87 | 9.38 | 9.15 |
| Working capital turnover | — | 3.59 | 2.94 | 2.06 | 1.96 | 1.61 | 1.32 | 1.41 | 2.06 | 6.70 | 8.03 | 6.96 | 7.17 | 11.12 | 7.64 | 6.15 | 7.98 | 6.91 | 5.44 | 6.46 |
ViaSat Inc's inventory turnover has shown an increasing trend from 5.15 in June 2020 to 9.58 in June 2024 before slightly decreasing to 7.87 in March 2025. This indicates that the company is managing its inventory more efficiently, with a higher turnover rate in recent years.
The receivables turnover ratio for ViaSat Inc fluctuated during the period analyzed, reaching a peak of 11.11 in December 2020 and declining to 2.63 in December 2023. This signifies that the company's ability to collect receivables efficiently varied over time, potentially indicating changes in sales policies or customer payment behaviors.
In terms of payables turnover, ViaSat Inc's ratio fluctuated but generally showed a decreasing trend from 9.15 in June 2020 to 14.47 in December 2024. This suggests that the company is taking longer to pay its accounts payable over time, which could impact cash flow management and relationships with suppliers.
The working capital turnover for ViaSat Inc varied significantly, with a peak of 11.12 in December 2021 and a low of 1.32 in September 2023. This highlights fluctuations in the company's ability to generate revenue relative to its working capital. The decreasing trend after 2022 may indicate potential efficiency challenges or changes in the company's operating cycle.
Overall, analyzing these activity ratios provides insights into ViaSat Inc's operational efficiency, inventory management, receivables collection, payment practices, and utilization of working capital over the period considered.
Average number of days
| 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 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 34.66 | 36.93 | 37.66 | 38.09 | 39.62 | 50.20 | 55.17 | 62.54 | 51.70 | 50.08 | 46.47 | 67.12 | 64.32 | 70.12 | 73.33 | 78.18 | 78.56 | 77.61 | 76.52 | 70.85 |
| Days of sales outstanding (DSO) | days | — | 54.11 | 62.99 | 69.12 | 80.07 | 138.88 | 72.99 | 83.57 | 57.79 | 50.08 | 42.41 | 48.49 | 47.04 | 49.41 | 53.11 | 55.65 | 38.61 | 32.87 | 40.22 | 42.87 |
| Number of days of payables | days | — | 25.22 | 28.42 | 26.66 | 35.80 | 44.67 | 62.04 | 70.38 | 52.28 | 57.61 | 46.59 | 45.71 | 41.22 | 49.79 | 40.68 | 45.65 | 33.86 | 28.35 | 38.90 | 39.87 |
Based on the provided data, let's analyze ViaSat Inc's activity ratios:
1. Days of Inventory on Hand (DOH):
- ViaSat's DOH has fluctuated over the periods, ranging from a high of 78.56 days on March 31, 2021, to a low of 36.93 days on December 31, 2024.
- A higher DOH indicates that ViaSat is taking longer to sell its inventory, potentially tying up cash in unsold goods.
- The trend shows that ViaSat has been able to reduce its DOH over time, which is generally positive as it indicates efficient inventory management.
2. Days of Sales Outstanding (DSO):
- The DSO for ViaSat shows variability, with the highest value of 138.88 days on December 31, 2023, which is a concerning indicator.
- DSO measures how long it takes for the company to collect payments from its customers, with a higher DSO suggesting slower collection and potentially riskier receivables.
- The decreasing trend in DSO from a peak on December 31, 2023, may indicate improvements in receivables management.
3. Number of Days of Payables:
- The days of payables have also shown fluctuations, with the highest value recorded on June 30, 2023, at 70.38 days.
- Longer payables days can indicate that ViaSat is taking longer to pay its suppliers, potentially benefiting from trade credit but also raising questions about supplier relationships.
- The decreasing trend in payables days over recent periods may suggest that ViaSat is managing its payables more efficiently.
In summary, ViaSat Inc's activity ratios display varying levels of efficiency in managing its inventory, receivables, and payables over the analyzed periods. The company has shown improvement in inventory and payables management, but there are fluctuations in receivables collection efficiency that may require further attention to optimize working capital management.
Long-term
| 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 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | — | — | 0.29 | 0.61 | 0.64 | 0.69 | 0.72 | 0.68 | 0.74 | 0.67 | 0.64 | 0.74 | 0.76 | 0.80 | 0.85 |
| Total asset turnover | — | 0.29 | 0.25 | 0.29 | 0.26 | 0.23 | 0.19 | 0.15 | 0.34 | 0.40 | 0.42 | 0.43 | 0.44 | 0.44 | 0.42 | 0.40 | 0.42 | 0.43 | 0.44 | 0.47 |
The fixed asset turnover ratio for ViaSat Inc has been declining over the years, indicating that the company is generating less revenue for each dollar invested in fixed assets. This reveals potential inefficiencies in how ViaSat is utilizing its fixed assets to generate sales.
Similarly, the total asset turnover ratio has also been decreasing steadily. This suggests that ViaSat is not efficiently utilizing its total assets to generate sales revenue, which could indicate operational inefficiencies or a decrease in productivity.
In conclusion, both the fixed asset turnover and total asset turnover ratios of ViaSat Inc show a downward trend, signaling potential operational challenges in efficiently utilizing assets to generate revenue. Monitoring and improving these ratios could be beneficial for enhancing the company's operational efficiency and profitability in the long term.