Apogee Enterprises Inc (APOG)
Receivables turnover
| Mar 2, 2024 | Feb 25, 2023 | Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,416,940 | 1,440,700 | 1,313,980 | 1,230,770 | 1,387,440 |
| Receivables | US$ in thousands | 173,557 | 197,267 | 168,592 | 175,917 | 196,806 |
| Receivables turnover | 8.16 | 7.30 | 7.79 | 7.00 | 7.05 |
March 2, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,416,940K ÷ $173,557K
= 8.16
The receivables turnover ratio for Apogee Enterprises Inc has exhibited fluctuating trends over the past five years. The ratio increased from 7.05 in 2020 to 7.79 in 2022, indicating an improvement in the company's efficiency in collecting receivables. However, there was a slight decline in 2023 to 7.30 before peaking at 8.16 in 2024.
A higher receivables turnover ratio suggests that the company is collecting its accounts receivable more efficiently. This may indicate effective credit policies, prompt collection efforts, or a customer base that pays quickly. In contrast, a lower ratio may imply that the company is struggling to collect on outstanding invoices or has overly lenient credit terms.
Overall, although there have been fluctuations in the receivables turnover ratio for Apogee Enterprises Inc, the general trend has shown a reasonable level of efficiency in collecting receivables over the years.