Adtalem Global Education Inc (ATGE)

Receivables turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,788,290	1,741,091	1,687,694	1,633,207	1,584,652	1,539,386	1,495,810	1,465,870	1,451,584	1,448,174	1,444,715	1,452,611	1,446,379	1,365,522	1,280,553	1,192,466	1,112,380	1,091,735	1,082,568	1,065,629
Receivables	US$ in thousands	146,189	162,972	146,973	171,509	126,833	140,909	133,666	147,752	102,749	113,284	99,542	111,858	81,635	96,064	92,744	163,211	67,996	77,559	91,051	99,536
Receivables turnover		12.23	10.68	11.48	9.52	12.49	10.92	11.19	9.92	14.13	12.78	14.51	12.99	17.72	14.21	13.81	7.31	16.36	14.08	11.89	10.71

June 30, 2025 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,788,290K ÷ $146,189K
= 12.23

The receivables turnover ratio of Adtalem Global Education Inc. demonstrates notable variability over the observed period. Initially, the ratio stood at 10.71 as of September 30, 2020, indicating the company's efficiency in collecting receivables. This figure increased notably over the subsequent quarters, reaching a peak of 17.72 on June 30, 2022, suggestive of improved receivable collection efficiency during that interval.

Following this peak, there was a decline in the ratio, with a notable dip to 7.31 on September 30, 2021, before rebounding to values exceeding 14 in late 2022 and early 2023, notably reaching 14.51 on December 31, 2022. The ratio maintained relatively high levels through the first half of 2023, though a decrease was observed in the third quarter of 2023 to 9.92. Subsequently, the ratio experienced some recovery, reaching 11.19 at the end of 2023 and fluctuating around mid-11s through the first half of 2024. As of the latest data (September 30, 2025), the receivables turnover stands at approximately 12.23.

Overall, the trend indicates periods of enhanced collection efficiency, particularly in mid-2022, alongside periods of decline, notably in late 2021 and 2023. These fluctuations could reflect changes in credit policies, shifts in customer payment behaviors, or other operational factors impacting receivable collections over time.