The Andersons Inc (ANDE)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 14,750,100 | 17,325,400 | 12,612,000 | 8,064,620 | 8,003,250 |
| Receivables | US$ in thousands | 762,549 | 1,261,150 | 845,164 | 665,457 | 546,970 |
| Receivables turnover | 19.34 | 13.74 | 14.92 | 12.12 | 14.63 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $14,750,100K ÷ $762,549K
= 19.34
The receivables turnover ratio for Andersons Inc. has shown fluctuating trends over the past five years. In 2023, the receivables turnover ratio increased to 19.34, indicating that the company collected its accounts receivables approximately 19 times during the year. This signifies an improvement in the efficiency of the company in converting its credit sales into cash compared to the prior year.
The receivables turnover ratio was 13.87 in 2022, which means the company collected its accounts receivables around 14 times during the year. This ratio also indicates a moderate level of efficiency in collecting credit sales.
In 2021, the ratio stood at 15.10, suggesting a slightly higher efficiency in collecting accounts receivables compared to 2022. However, the ratio decreased to 12.44 in 2020, indicating a decline in the efficiency of collecting cash from credit sales.
The highest receivables turnover ratio in recent years was observed in 2019, at 15.23, signaling a strong ability to convert credit sales into cash efficiently. Overall, fluctuations in the receivables turnover ratio indicate varying levels of effectiveness in managing accounts receivables over the years.
Peer comparison
Dec 31, 2023