Avient Corp (AVNT)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,025,600	3,817,600	4,743,500	3,167,500	2,803,200
Receivables	US$ in thousands	399,900	440,600	642,300	516,600	330,000
Receivables turnover		7.57	8.66	7.39	6.13	8.49

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $3,025,600K ÷ $399,900K
= 7.57

The receivables turnover ratio of Avient Corp has shown a fluctuating trend over the past five years. The ratio increased from 6.28 in 2020 to 8.67 in 2019, indicating an improvement in the company's ability to collect receivables efficiently. However, there was a slight decline in the ratio to 7.50 in 2021, followed by further marginal decreases to 7.71 in 2022 and 7.86 in 2023.

Overall, the receivables turnover ratio of Avient Corp has remained relatively stable, hovering around the 7 to 8 range in recent years. This suggests that the company is, on average, able to convert its accounts receivable into cash approximately 7 to 8 times a year. Efficient management of receivables is crucial for maintaining liquidity and optimizing cash flow, and Avient Corp appears to have maintained a satisfactory level of receivables turnover during the period under review.