American States Water Company (AWR)

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	595,699	595,886	579,174	544,381	491,528	482,785	484,556	490,363	498,853	506,429	503,362	496,226	488,243	477,036	477,844	481,213	473,869	471,881	461,567	443,821
Receivables	US$ in thousands	57,818	32,659	27,074	21,328	50,770	31,920	27,213	23,398	61,799	33,375	29,663	22,084	55,101	33,892	30,510	27,034	47,074	49,521	43,854	33,161
Receivables turnover		10.30	18.25	21.39	25.52	9.68	15.12	17.81	20.96	8.07	15.17	16.97	22.47	8.86	14.08	15.66	17.80	10.07	9.53	10.53	13.38

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $595,699K ÷ $57,818K
= 10.30

The receivables turnover of American States Water Co. has shown some fluctuations over the past eight quarters. In Q1 2022, the company had a high receivables turnover of 6.65, indicating that it collected its accounts receivable approximately 6.65 times during that quarter. Subsequently, the turnover ratio gradually decreased to 5.25 in Q4 2023, with some variations in between.

The general trend suggests that the company was able to collect its receivables relatively quickly in the past, evidenced by turnover ratios consistently above 5. However, it seems that the turnover ratio has slightly decreased in recent quarters, which may raise concerns about the company's efficiency in collecting its accounts receivable promptly.

Further analysis and comparison with industry benchmarks would be beneficial to determine if the fluctuations are within a normal range or if there are underlying issues affecting the company's receivables management. It is essential for stakeholders to monitor these trends closely to ensure that the company maintains healthy cash flow and liquidity.