ViaSat Inc (VSAT)

Activity ratios

Short-term

Turnover ratios

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 Sep 30, 2019 Jun 30, 2019
Inventory turnover 6.26 5.50 5.32 2.58 3.00 2.88 3.11 2.04 3.60 1.88 1.80 1.70 1.66 1.64 1.68 1.80 1.91 1.91 1.91 1.89
Receivables turnover 4.00 3.60 3.38 5.97 7.26 3.73 4.51 5.60 7.61 7.27 6.75 6.43 9.25 10.84 8.85 8.31 6.79 7.01 7.41 6.92
Payables turnover 6.93 6.18 4.73 2.29 2.96 2.51 3.10 3.00 3.55 2.65 3.24 2.92 3.86 4.50 3.30 3.19 3.06 3.55 3.64 3.43
Working capital turnover 1.72 2.20 1.93 1.93 2.37 3.43 4.21 5.18 7.03 10.94 7.51 6.03 7.80 6.74 5.30 6.31 5.09 10.47 8.58 6.69

ViaSat Inc's inventory turnover has generally improved over the analyzed periods, indicating that the company is managing its inventory more efficiently. This improvement suggests that the company is selling its inventory at a faster rate compared to previous periods.

The receivables turnover ratio shows a fluctuating trend, with some quarters performing better than others. A higher receivables turnover ratio implies that the company is collecting on its outstanding receivables more quickly. ViaSat Inc has shown strong collection efficiency in some quarters, but there is variability in performance.

The payables turnover ratio has shown some inconsistency, with fluctuations in the rate at which the company is paying its suppliers. A higher payables turnover ratio indicates that the company is paying its suppliers more quickly. ViaSat Inc's performance in this area has varied over the periods analyzed.

The working capital turnover ratio has shown a general decreasing trend, indicating that the company is generating less revenue per dollar of working capital employed. This may suggest inefficiencies in the utilization of working capital, possibly due to changes in operating activities or management of current assets and liabilities.

Overall, ViaSat Inc's activity ratios reflect varying levels of efficiency in managing its inventory, receivables, payables, and working capital over the analyzed periods. This analysis emphasizes the need for the company to focus on maintaining and improving operational efficiencies to support its financial performance.

Average number of days

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 Sep 30, 2019 Jun 30, 2019
Days of inventory on hand (DOH) days 58.27 66.32 68.67 141.57 121.87 126.59 117.38 178.78 101.36 194.34 202.77 214.23 219.23 221.91 217.72 203.21 191.06 191.18 190.73 192.62
Days of sales outstanding (DSO) days 91.31 101.49 108.01 61.14 50.25 97.96 80.85 65.13 47.94 50.19 54.05 56.79 39.47 33.68 41.24 43.93 53.76 52.07 49.25 52.78
Number of days of payables days 52.65 59.01 77.21 159.32 123.22 145.63 117.69 121.74 102.79 137.98 112.49 125.10 94.51 81.06 110.69 114.35 119.15 102.84 100.31 106.26

Days of inventory on hand (DOH) measures how many days it takes for a company to sell its inventory. ViaSat Inc had varying DOH values over the past few quarters, with a peak of 221.91 days at the end of 2020. However, the latest DOH figure of 58.27 days at the end of March 2024 shows a significant improvement in managing inventory levels efficiently.

Days of sales outstanding (DSO) indicates the average number of days it takes for a company to collect payment after making a sale. ViaSat Inc also experienced fluctuations in DSO, with the lowest value of 33.68 days at the end of December 2020. The latest DSO level of 91.31 days at the end of March 2024 indicates that the company's collection period has increased, potentially impacting cash flow.

Number of days of payables reflects how long a company takes to pay its suppliers. ViaSat Inc has seen fluctuations in this metric as well, with a peak of 159.32 days at the end of September 2023. The latest value of 52.65 days at the end of March 2024 shows an improvement in managing payables efficiently.

Overall, the company has shown improvements in inventory management and payable days, but its collection period has increased in the latest quarter. Efficient management of these activity ratios is crucial for maintaining liquidity and optimizing working capital.

Long-term

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 Sep 30, 2019 Jun 30, 2019
Fixed asset turnover 0.50 0.71 0.63 0.41 0.70 0.33 0.36 0.54 0.74 0.73 0.72 0.69 0.72 0.74 0.78 0.83 0.87 0.88 0.92 0.95
Total asset turnover 0.23 0.31 0.28 0.21 0.39 0.20 0.22 0.32 0.43 0.43 0.42 0.39 0.41 0.42 0.42 0.46 0.46 0.49 0.50 0.49

ViaSat Inc's fixed asset turnover ratio has fluctuated over the periods analyzed, ranging from 0.33 to 0.95. The ratio indicates that, on average, the company generates between $0.33 to $0.95 in revenue for every dollar invested in fixed assets. A lower fixed asset turnover ratio may suggest underutilization or inefficiency in the use of fixed assets, while a higher ratio could indicate efficient asset utilization.

In contrast, ViaSat Inc's total asset turnover has also varied, with values spanning from 0.20 to 0.50. This ratio reflects the company's ability to generate revenue from all its assets, including fixed and current assets. A total asset turnover below 1 implies that the company may not be maximizing its revenue potential from its total asset base.

Overall, the trend in both ratios may indicate changes in investment strategies, asset utilization efficiency, or shifts in the company's revenue-generating capabilities. Further analysis, in conjunction with other financial metrics and qualitative factors, would be necessary to gain a more comprehensive understanding of ViaSat Inc's long-term activity performance.