AdvanSix Inc (ASIX)
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 | 1,525,604 | 1,550,528 | 1,707,779 | 1,864,760 | 1,943,802 | 1,963,180 | 1,930,418 | 1,783,754 | 1,680,358 | 1,596,651 | 1,431,259 | 1,226,091 | 1,153,999 | 1,140,377 | 1,171,063 | 1,285,126 | 1,296,943 | 1,356,927 | 1,414,965 | 1,470,226 |
| Receivables | US$ in thousands | 166,827 | 146,171 | 154,590 | 162,412 | 185,200 | 200,831 | 246,371 | 223,541 | 179,087 | 171,278 | 165,744 | 149,801 | 135,843 | 110,908 | 84,899 | 123,003 | 106,660 | 109,292 | 127,526 | 117,247 |
| Receivables turnover | 9.14 | 10.61 | 11.05 | 11.48 | 10.50 | 9.78 | 7.84 | 7.98 | 9.38 | 9.32 | 8.64 | 8.18 | 8.50 | 10.28 | 13.79 | 10.45 | 12.16 | 12.42 | 11.10 | 12.54 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,525,604K ÷ $166,827K
= 9.14
The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher ratio indicates that the company is collecting its accounts receivable more quickly.
Looking at the data for AdvanSix Inc's receivables turnover over the past eight quarters, we can see some fluctuations in the ratio. In Q4 2023, the receivables turnover ratio was 9.19, which decreased from the previous quarter's ratio of 10.64. This decline suggests that the company took longer to collect payments from its customers in Q4 2023 compared to Q3 2023.
However, when we compare the latest ratio to the ratios from the same quarter in the previous years, we see that Q4 2023 still had a higher receivables turnover than in Q4 2022, indicating an improvement in collections performance year-over-year.
Overall, although there was a slight decline in the receivables turnover ratio from the previous quarter, AdvanSix Inc's collection efficiency remains relatively high compared to historical data, suggesting satisfactory management of accounts receivable.
Peer comparison
Dec 31, 2023