Altair Engineering Inc (ALTR)

Receivables turnover

Mar 31, 2024 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
Revenue (ttm) US$ in thousands 612,557 608,222 600,592 585,021 571,392 563,439 536,037 540,111 530,033 519,011 510,152 496,321 475,198 458,323 456,770 449,723 461,129 459,602 446,656 443,361
Receivables US$ in thousands 146,768 207,111 134,257 138,765 141,862 181,538 130,386 114,895 124,629 146,949 97,630 99,519 113,097 124,614 95,605 84,945 93,549 112,248 95,613 94,273
Receivables turnover 4.17 2.94 4.47 4.22 4.03 3.10 4.11 4.70 4.25 3.53 5.23 4.99 4.20 3.68 4.78 5.29 4.93 4.09 4.67 4.70

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $612,557K ÷ $146,768K
= 4.17

Altair Engineering Inc's receivables turnover ratio has fluctuated over the past several quarters, indicating variations in the efficiency of the company in collecting its accounts receivables.

In the most recent quarter, as of March 31, 2024, the receivables turnover ratio was 4.17. This implies that Altair Engineering collected its outstanding receivables approximately 4.17 times during the quarter. Compared to the previous quarter, this represents an improvement from the ratio of 2.94 as of December 31, 2023.

Looking at the trend over the past several quarters, the company's receivables turnover ratio has shown some volatility. While there were periods of fluctuation, the general trend seems to be showing a positive movement towards more efficiency in collecting receivables, with some quarters exhibiting higher turnover ratios compared to others.

Analyzing the data, Altair Engineering's ability to efficiently convert its accounts receivables into cash has shown improvement, with the ratio generally remaining above 4 in recent quarters. However, it would be important to continue monitoring this ratio to ensure a consistent and effective collection of receivables, which is crucial for maintaining healthy cash flow and liquidity position.