Astec Industries Inc (ASTE)
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 | 1,332,400 | 1,346,100 | 1,360,800 | 1,330,300 | 1,271,800 | 1,189,500 | 1,141,500 | 1,101,900 | 1,095,400 | 1,068,200 | 1,032,508 | 1,019,687 | 1,024,892 | 1,069,192 | 1,093,524 | 1,132,663 | 1,168,039 | 1,201,647 | 1,202,450 | 1,170,492 |
| Receivables | US$ in thousands | 152,700 | 174,700 | 157,600 | 172,200 | 173,600 | 160,600 | 160,100 | 137,900 | 141,700 | 145,800 | 148,300 | 141,200 | 115,900 | 127,160 | 114,917 | 136,710 | 120,300 | 110,583 | 135,969 | 133,431 |
| Receivables turnover | 8.73 | 7.71 | 8.63 | 7.73 | 7.33 | 7.41 | 7.13 | 7.99 | 7.73 | 7.33 | 6.96 | 7.22 | 8.84 | 8.41 | 9.52 | 8.29 | 9.71 | 10.87 | 8.84 | 8.77 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,332,400K ÷ $152,700K
= 8.73
Analyzing the receivables turnover of Astec Industries Inc. over the past eight quarters reveals fluctuations in the efficiency of the company in collecting its accounts receivable. The receivables turnover ratio measures how many times a company collects its average accounts receivable balance during a specific period.
The receivables turnover ratio for Q4 2023 was 8.76, showing an improvement from the previous quarter's 7.59. This indicates that Astec Industries Inc. improved its collection efficiency, potentially collecting its outstanding receivables at a faster rate in the final quarter of 2023.
Looking back at the trend, there have been fluctuations in the receivables turnover ratio over the past eight quarters, ranging from a low of 6.83 in Q2 2022 to a high of 8.76 in Q4 2023. These variations suggest some inconsistencies in the company's accounts receivable management.
Overall, while the recent increase in the receivables turnover ratio is a positive sign for Astec Industries Inc., it would be important to monitor future trends to ensure a consistent and efficient collection of accounts receivable.
Peer comparison
Dec 31, 2023