AbbVie Inc (ABBV)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	54,318,000	58,054,000	56,197,000	45,804,000	33,266,000
Receivables	US$ in thousands	11,155,000	11,254,000	9,977,000	8,822,000	5,428,000
Receivables turnover		4.87	5.16	5.63	5.19	6.13

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $54,318,000K ÷ $11,155,000K
= 4.87

The receivables turnover ratio for Abbvie Inc has shown a general decreasing trend over the past five years. The ratio decreased from 6.13 in 2019 to 4.87 in 2023. This indicates that the company took longer to collect outstanding receivables in 2023 compared to previous years. While a decreasing trend may indicate potential issues with collecting receivables efficiently, it is essential to consider industry norms and company-specific factors before drawing definitive conclusions about the company's receivables management.