Apogee Enterprises Inc (APOG)
Receivables turnover
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,547,564 | 2,501,973 | 2,557,103 | 2,594,503 | 2,585,810 | 2,517,893 | 2,118,478 | 1,700,683 | 1,312,727 | 1,276,688 | 1,255,080 | 1,248,514 | 1,210,378 | 1,253,972 | 1,279,807 | 1,318,706 | 1,387,439 | 1,396,594 | 1,416,396 | 1,421,471 |
| Receivables | US$ in thousands | 173,557 | 198,249 | 205,720 | 210,796 | 197,267 | 222,554 | 231,853 | 193,741 | 168,592 | 165,005 | 160,858 | 172,433 | 175,917 | 172,877 | 165,682 | 156,304 | 196,806 | 197,976 | 201,913 | — |
| Receivables turnover | 14.68 | 12.62 | 12.43 | 12.31 | 13.11 | 11.31 | 9.14 | 8.78 | 7.79 | 7.74 | 7.80 | 7.24 | 6.88 | 7.25 | 7.72 | 8.44 | 7.05 | 7.05 | 7.01 | — |
March 2, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,547,564K ÷ $173,557K
= 14.68
The receivables turnover of Apogee Enterprises Inc has shown a fluctuating trend over the past several reporting periods. The ratio has ranged from a high of 14.68 in March 2, 2024, to a low of 6.88 in February 27, 2021. Generally, a higher receivables turnover indicates that the company is able to efficiently collect payments from its customers, while a lower turnover may suggest issues with collecting receivables in a timely manner.
The company's receivables turnover peaked in March 2, 2024, indicating that it collected its average accounts receivable balance approximately 14.68 times during that period. This may suggest effective credit management or strong customer payment practices. Conversely, the lowest turnover of 6.88 in February 27, 2021, could indicate potential challenges in collecting receivables promptly.
Overall, the trend in Apogee Enterprises Inc's receivables turnover shows some variability, which could be influenced by factors such as changes in credit policies, customer payment behavior, or economic conditions. Further analysis may be needed to assess the factors driving these fluctuations and to evaluate the effectiveness of the company's receivables management processes.