Advance Auto Parts Inc (AAP)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,284,200 | 11,142,900 | 10,996,300 | 10,051,400 | 9,707,300 |
| Receivables | US$ in thousands | 800,141 | 684,048 | 782,785 | 749,999 | 689,469 |
| Receivables turnover | 14.10 | 16.29 | 14.05 | 13.40 | 14.08 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $11,284,200K ÷ $800,141K
= 14.10
The receivables turnover ratio for Advance Auto Parts Inc has fluctuated over the past five years. The trend indicates that the company's ability to collect its accounts receivable has varied. In 2022, the ratio reached its peak at 16.29, suggesting that the company was collecting its receivables more frequently during that period. However, in 2023, the ratio decreased to 14.10, indicating a slower rate of collections compared to the previous year. Overall, Advance Auto Parts Inc has maintained a relatively stable receivables turnover ratio over the years, with fluctuations within a moderate range. The company's management may need to further analyze and monitor its accounts receivable collection process to ensure efficiency and timely collections in the future.
Peer comparison
Dec 31, 2023