Bristow Group Inc (VTOL)

Short-term

Turnover ratios

The inventory turnover for Bristow Group Inc has generally trended downward over the past few quarters, indicating that the company is holding onto its inventory for a longer period before selling it. This may suggest inefficiencies in inventory management or potentially slower sales.

The receivables turnover ratio fluctuates significantly, with extremely high values in some quarters, such as 658.45 in March 2022. These fluctuations may be due to irregularities in the company's collection practices or changes in its customer base.

The payables turnover ratio shows some variability but has generally remained within a moderate range. A higher payables turnover ratio could indicate that the company is paying its suppliers more frequently, potentially taking advantage of extended payment terms.

The working capital turnover has shown some fluctuation over the quarters, but overall, the company is efficiently using its working capital to generate sales. A higher working capital turnover ratio indicates that the company is effectively leveraging its resources to drive revenue growth.

Overall, the activity ratios of Bristow Group Inc exhibit some variability and trends worth monitoring, particularly in terms of inventory turnover and receivables turnover, which may indicate areas for further improvement in efficiency and effectiveness in managing the company's assets and operations.

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Average number of days

Bristow Group Inc's activity ratios show the efficiency of its operations in managing inventory, collecting receivables, and paying its suppliers.

1. Days of inventory on hand (DOH):
- The DOH has been fluctuating over the periods, with a significant increase in inventory days from 43.18 days in Jun 2021 to 439.91 days in Mar 2020, indicating potential inventory management issues or a change in business operations.
- The DOH decreased to 58.13 days in Sep 2021 and further to 58.14 days in Dec 2021 before rising again to 116.17 days in Mar 2022. It has since been trending downward to 161.33 days in Dec 2023.
- Overall, the company may be improving its inventory management efficiency, but it still holds inventory for a relatively long time compared to its peers.

2. Days of sales outstanding (DSO):
- DSO measures how many days it takes for the company to collect payments from its customers. The data shows that DSO has been fluctuating, with some periods showing no data.
- In general, the trend indicates a decrease in DSO over time, which is a positive sign as it suggests that the company is collecting payments faster from its customers. However, the lack of data for some periods hinders a comprehensive analysis.

3. Number of days of payables:
- The number of days of payables represents how long the company takes to pay its suppliers. The data shows fluctuations in the payables days over the periods.
- There was a significant increase in payables days in Mar 2020 to 278.14 days, which might indicate liquidity issues or deliberate extension of payment terms with suppliers.
- The payables days have since decreased and fluctuated, with the company taking less time to pay its suppliers in recent periods.
- It is essential for the company to strike a balance between managing payables effectively while maintaining good relationships with suppliers.

In conclusion, the analysis of Bristow Group Inc's activity ratios suggests improvements in inventory management and collection efficiency over time, but there are areas that still require attention, such as reducing inventory days further and managing payables effectively for optimal working capital management.

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Long-term

Looking at Bristow Group Inc's long-term activity ratios, we can see a trend in the fixed asset turnover and total asset turnover ratios over the periods provided.

The fixed asset turnover ratio measures how efficiently the company is generating revenue from its fixed assets. It indicates that for each dollar of fixed assets, Bristow Group Inc generated $1.40 of revenue at the end of December 2023. The ratio has been relatively stable over the past few quarters, ranging between 1.24 and 1.44. This consistency suggests that the company has been effectively utilizing its fixed assets to generate sales.

On the other hand, the total asset turnover ratio represents how well the company is utilizing all of its assets to generate revenue. Bristow Group Inc's total asset turnover ratio has also been relatively consistent, fluctuating between 0.63 and 0.68. This indicates that the company has been maintaining a consistent level of efficiency in generating sales from its total assets.

Overall, both ratios suggest that Bristow Group Inc has been managing its assets efficiently to generate revenue consistently over the periods analyzed. However, it's worth noting the differences in the efficiencies between fixed assets and total assets utilization.