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.