Albany International Corporation (AIN)
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 | 1,127,205 | 1,085,916 | 1,071,101 | 1,052,195 | 1,027,602 | 996,333 | 962,423 | 937,136 | 913,292 | 900,890 | 882,355 | 873,190 | 889,853 | 925,016 | 986,423 | 1,038,464 | 1,054,073 | 1,047,973 | 1,028,773 | 1,010,273 |
| Receivables | US$ in thousands | 308,471 | 289,773 | 261,048 | 236,231 | 223,457 | 220,501 | 221,456 | 232,164 | 218,269 | 224,952 | 215,784 | 214,903 | 213,989 | 233,495 | 222,891 | 228,144 | 238,597 | 240,294 | 235,264 | 252,459 |
| Receivables turnover | 3.65 | 3.75 | 4.10 | 4.45 | 4.60 | 4.52 | 4.35 | 4.04 | 4.18 | 4.00 | 4.09 | 4.06 | 4.16 | 3.96 | 4.43 | 4.55 | 4.42 | 4.36 | 4.37 | 4.00 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,127,205K ÷ $308,471K
= 3.65
Albany International Corp.'s receivables turnover has shown fluctuations over the past eight quarters. The trend indicates a general decline in receivables turnover from Q4 2022 to Q1 2023, followed by a slight increase in Q2 2023. The ratio then experienced a more significant increase in Q3 2023 but dropped slightly in Q4 2023.
The company's receivables turnover ratio, on average, was 4.68 over the eight quarters analyzed. A higher receivables turnover ratio generally indicates a more efficient collection of outstanding receivables and liquidity of the company's accounts receivables. Albany International Corp.'s turnover ratios have generally been above the average, indicating efficient management in collecting payments from customers on credit sales.
However, the recent decline in the ratio from Q2 2023 to Q4 2023 may suggest a potential slowdown in the collection of accounts receivables or changes in the company's credit policies, which could impact its liquidity and working capital management. Further analysis and monitoring of the trend in receivables turnover are advised to assess the company's financial health and effectiveness in managing its receivables.