ADEIA CORP (ADEA)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 388,788 | 438,933 | 391,212 | 515,919 |
| Receivables | US$ in thousands | 114,570 | 132,234 | 221,360 | 248,406 |
| Receivables turnover | 3.39 | 3.32 | 1.77 | 2.08 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $388,788K ÷ $114,570K
= 3.39
Based on the data provided for ADEIA CORP's receivables turnover from 2020 to 2023, we observe a fluctuating trend in the efficiency with which the company is collecting its outstanding receivables. The receivables turnover ratio indicates how many times during a year the company collects its average accounts receivable balance.
In 2020, the receivables turnover ratio was 2.08, signifying that the company collected its outstanding receivables approximately 2.08 times during the year. The ratio increased to 1.77 in 2021, indicating a decrease in the frequency of receivables collection. However, in 2022, the ratio improved to 3.32, suggesting a more efficient collection of receivables compared to the previous year.
The most recent data for 2023 shows a further improvement in the receivables turnover ratio to 3.39, indicating an even higher efficiency in collecting outstanding receivables compared to the prior year. Overall, the trend indicates that ADEIA CORP has been more effective in converting its accounts receivable into cash in recent years, with a notable increase in 2023 compared to 2022. This improvement may signify enhanced credit control measures or more timely collection efforts by the company.
Peer comparison
Dec 31, 2023