AptarGroup Inc (ATR)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,487,450 | 3,322,250 | 3,227,220 | 2,929,340 | 2,859,730 |
| Receivables | US$ in thousands | 677,800 | 677,000 | 671,000 | 567,000 | 558,428 |
| Receivables turnover | 5.15 | 4.91 | 4.81 | 5.17 | 5.12 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,487,450K ÷ $677,800K
= 5.15
Aptargroup Inc.'s receivables turnover ratio has shown fluctuations over the past five years. The trend indicates the number of times the company's accounts receivable are converted into cash during a year. The ratio has ranged from 4.81 to 5.17 during this period, with an average of approximately 5.07.
In 2023, the company's receivables turnover improved to 5.15 from 4.91 in 2022. This indicates that Aptargroup Inc. collected its accounts receivable slightly more efficiently in 2023 compared to the previous year.
Overall, the company appears to have maintained a relatively stable receivables turnover ratio in recent years, which suggests that it has a consistent approach to managing its accounts receivable and converting them into cash. While the ratio does vary slightly from year to year, the general trend indicates that Aptargroup Inc. is effectively managing its receivables.
Peer comparison
Dec 31, 2023