American Axle & Manufacturing (AXL)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	6,079,500	5,802,400	5,156,600	4,710,800	6,530,900
Receivables	US$ in thousands	818,500	820,200	762,800	793,200	815,400
Receivables turnover		7.43	7.07	6.76	5.94	8.01

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $6,079,500K ÷ $818,500K
= 7.43

American Axle & Manufacturing Holdings Inc's receivables turnover has shown a fluctuating trend over the past five years. The ratio increased from 5.94 in 2020 to 8.01 in 2019, indicating an improvement in the speed at which the company is collecting its accounts receivable. However, this was followed by a slight decrease to 6.76 in 2021 and then further to 7.07 in 2022.

In 2023, there was another increase in the receivables turnover ratio to 7.43, suggesting that the company collected its receivables more efficiently compared to the previous two years. A higher receivables turnover ratio is generally seen as positive as it signifies that the company is converting its accounts receivable into cash more quickly.

Overall, while there have been fluctuations in the receivables turnover ratio of American Axle & Manufacturing Holdings Inc over the past five years, the recent uptrend in 2023 indicates an improvement in the management of accounts receivable, which could positively impact the company's liquidity and cash flow.