ANI Pharmaceuticals Inc (ANIP)

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	454,334	417,871	370,670	328,961	287,962	256,461	229,582	208,526	202,730	205,047	205,953	205,960	203,642	194,356	195,209	203,434	206,547	215,703	215,069	207,980
Receivables	US$ in thousands	162,079	178,842	172,925	174,713	165,438	140,433	150,410	131,625	128,526	106,714	92,648	91,876	95,793	83,745	73,162	82,379	72,129	70,700	76,274	67,410
Receivables turnover		2.80	2.34	2.14	1.88	1.74	1.83	1.53	1.58	1.58	1.92	2.22	2.24	2.13	2.32	2.67	2.47	2.86	3.05	2.82	3.09

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $454,334K ÷ $162,079K
= 2.80

The receivables turnover ratio measures how efficiently a company is collecting payments from its customers. ANI Pharmaceuticals Inc's receivables turnover has been fluctuating over the past eight quarters. In Q4 2023, the company had a receivables turnover of 3.00, indicating that it collected its accounts receivable three times during the period. This represents an improvement compared to the previous quarters, where the turnover was lower.

The trend shows that ANI Pharmaceuticals Inc's ability to collect payments from customers has been increasing recently. However, it is important to note that the company's receivables turnover ratio was higher in previous years, such as in Q4 2022 when it was 1.91. This suggests that the company may have improved its collection efficiency in the most recent quarter compared to the same period in the previous year.

Overall, a higher receivables turnover ratio is generally preferred as it indicates that the company is collecting payments more quickly. ANI Pharmaceuticals Inc's recent improvement in receivables turnover may suggest that the company has become more efficient in managing its accounts receivable, which could lead to improved cash flows and working capital management.