Addus HomeCare Corporation (ADUS)
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 | 1,051,791 | 1,022,325 | 991,801 | 968,399 | 943,504 | 921,874 | 898,854 | 880,430 | 859,640 | 832,331 | 810,463 | 777,659 | 762,842 | 759,222 | 735,551 | 700,648 | 650,057 | 597,350 | 565,258 | 547,388 |
| Receivables | US$ in thousands | 115,499 | 121,112 | 104,252 | 125,441 | 125,501 | 126,253 | 125,291 | 141,141 | 144,511 | 135,993 | 139,378 | 140,185 | 133,178 | 121,582 | 130,202 | 141,209 | 151,247 | 138,705 | 134,427 | 120,819 |
| Receivables turnover | 9.11 | 8.44 | 9.51 | 7.72 | 7.52 | 7.30 | 7.17 | 6.24 | 5.95 | 6.12 | 5.81 | 5.55 | 5.73 | 6.24 | 5.65 | 4.96 | 4.30 | 4.31 | 4.20 | 4.53 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,051,791K ÷ $115,499K
= 9.11
The receivables turnover ratio for Addus HomeCare Corporation has shown a fluctuating trend over recent quarters. In Q4 2023, the company achieved a receivables turnover ratio of 9.17, indicating that on average, the company collected its accounts receivable approximately 9.17 times during the quarter. This represents an improvement from the previous quarter and continues the overall increasing trend observed from Q1 2023.
The company's ability to efficiently collect its receivables has generally been improving over the past few quarters, with Q4 2023 marking the highest turnover ratio in the dataset provided. The trend suggests that Addus HomeCare Corporation has become more effective in managing its accounts receivable and converting them into cash.
Overall, the increasing trend in receivables turnover reflects positively on the company's cash flow management and indicates its ability to promptly collect payments from customers, which is crucial for maintaining healthy liquidity and operational efficiency.
Peer comparison
Dec 31, 2023