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  "documentTitle": "Xylem Inc. (XYL)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-08-09 00:00:00",
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  "notes": "The slide uses a red box to highlight the Q1 2023 inventory metric and a callout box to emphasize it as an all-time annual high.",
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      "text": "Spruce Point believes the evidence of Xylem's struggles can be seen by carefully evaluating its working capital metrics. Days inventory outstanding (DIO) and inventory to sales have increased markedly and are at highs.",
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      "text": "Spruce Point believes the evidence of Xylem’s struggles can be seen by carefully evaluating its working capital metrics. Days inventory outstanding (DIO) and inventory to sales have increased markedly and are at highs.",
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      "text": "Days of inventory: 85.7",
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      "text": "Source: Xylem and Spruce Point analysis (1) Defined by Xylem as Accounts Receivable +Accounts Payable + Inventories – Customer advances / LTM sales",
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      "text": "Xylem's Working Capital Metrics table showing 2020-Q1 2023 data for AR, AP, Inventory, DIO, and Ratios.",
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      "text": "Working Capital Metrics And Days Inventory Signal Elevated Stress For Xylem",
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