Axcelis Technologies Inc (ACLS)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,130,600 | 919,998 | 662,428 | 474,560 | 342,958 |
| Receivables | US$ in thousands | 217,964 | 169,773 | 104,410 | 86,865 | 83,753 |
| Receivables turnover | 5.19 | 5.42 | 6.34 | 5.46 | 4.09 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,130,600K ÷ $217,964K
= 5.19
The receivables turnover of Axcelis Technologies Inc has exhibited some fluctuations over the past five years. The ratio indicates the efficiency of the company in collecting outstanding receivables during a particular period.
In 2023, the receivables turnover decreased to 5.19 times from 5.42 times in 2022, showing a slight decrease in the efficiency of the company in collecting its accounts receivable. However, it is important to note that the ratio of 5.19 is still relatively high, indicating that the company is able to collect its receivables multiple times within the year.
Looking at the trend over the past five years, there has been some variability in the receivables turnover ratio. In 2021, the company experienced a peak with a ratio of 6.34, indicating a significant improvement in receivables management compared to the previous years. However, the efficiency dropped slightly in 2022 and further in 2023.
Overall, Axcelis Technologies Inc has shown reasonable efficiency in collecting its accounts receivable over the years, although there have been fluctuations in the ratio. It would be advisable for the company to monitor this ratio closely to ensure optimal management of its receivables going forward.
Peer comparison
Dec 31, 2023