AbbVie Inc (ABBV)

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	54,318,000	55,138,000	56,023,000	56,741,000	58,054,000	57,819,000	57,349,000	56,725,000	56,197,000	55,169,000	53,729,000	50,195,000	45,804,000	40,650,000	36,227,000	34,057,000	33,266,000	32,867,000	32,624,000	32,647,000
Receivables	US$ in thousands	11,155,000	11,412,000	11,491,000	11,473,000	11,254,000	10,743,000	11,237,000	10,733,000	9,977,000	9,281,000	9,914,000	9,588,000	8,822,000	8,416,000	8,354,000	6,362,000	5,428,000	5,529,000	5,482,000	5,680,000
Receivables turnover		4.87	4.83	4.88	4.95	5.16	5.38	5.10	5.29	5.63	5.94	5.42	5.24	5.19	4.83	4.34	5.35	6.13	5.94	5.95	5.75

December 31, 2023 calculation

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

AbbVie Inc's receivables turnover has been relatively stable over the past eight quarters, ranging from 4.83 to 5.38. The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher turnover ratio indicates that the company is collecting its accounts receivable more quickly.

In AbbVie's case, the decreasing trend in receivables turnover from Q4 2022 to Q1 2023, followed by a slight increase in Q2 and Q3 2023, suggests a potential improvement in the company's collections efficiency. However, the ratio remains below the peak value from Q4 2022.

Overall, AbbVie Inc's receivables turnover indicates that the company has been managing its accounts receivable effectively, but there may be room for further improvement in streamlining its receivables collection process.