Apple Inc (AAPL)
Receivables turnover
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 383,706,000 | 380,282,000 | 381,105,000 | 382,546,000 | 384,297,000 | 391,397,000 | 384,766,000 | 383,295,000 | 375,622,000 | 363,172,000 | 345,182,000 | 323,401,000 | 292,043,000 | 272,276,000 | 271,618,000 | 265,573,000 | 265,022,000 | 257,408,000 | 256,268,000 | 256,590,000 |
| Receivables | US$ in thousands | 50,102,000 | 60,985,000 | 39,186,000 | — | 54,180,000 | 60,932,000 | 42,242,000 | 45,400,000 | 65,253,000 | 51,506,000 | 33,908,000 | 33,036,000 | 58,620,000 | 37,445,000 | 32,075,000 | 30,677,000 | 39,946,000 | 45,804,000 | 26,474,000 | 26,278,000 |
| Receivables turnover | 7.66 | 6.24 | 9.73 | — | 7.09 | 6.42 | 9.11 | 8.44 | 5.76 | 7.05 | 10.18 | 9.79 | 4.98 | 7.27 | 8.47 | 8.66 | 6.63 | 5.62 | 9.68 | 9.76 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $383,706,000K ÷ $50,102,000K
= 7.66
The receivables turnover ratio for Apple Inc has fluctuated over the periods provided. The ratio measures how efficiently the company is collecting its accounts receivable during a specific period. A higher receivables turnover indicates that Apple is collecting its outstanding receivables more frequently.
In analyzing the data, we can see that Apple's receivables turnover ratio has generally been above 6, indicating a satisfactory level of efficiency in collecting its accounts receivable. There was a peak in the ratio in the June 2021 quarter at 10.18, suggesting that Apple was exceptionally efficient in collecting receivables during that period.
It is important to note the absence of data for the receivables turnover in the March 2023 quarter. This could be due to various reasons, such as a delay in reporting or seasonal fluctuations impacting the collection of accounts receivable.
Overall, Apple's receivables turnover ratio demonstrates a consistent trend of efficiency in managing its accounts receivable, which is essential for maintaining healthy cash flows and working capital management.
Peer comparison
Dec 31, 2023