AutoZone Inc (AZO)
Receivables turnover
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 17,457,200 | 16,252,200 | 14,629,600 | 12,632,000 | 11,863,700 |
| Receivables | US$ in thousands | 520,385 | 504,886 | 378,392 | 364,774 | 308,995 |
| Receivables turnover | 33.55 | 32.19 | 38.66 | 34.63 | 38.39 |
August 26, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $17,457,200K ÷ $520,385K
= 33.55
The receivables turnover for Autozone Inc. has fluctuated over the past five years. In the most recent fiscal year ending August 26, 2023, the receivables turnover was 33.55, which indicates that the company collected its accounts receivable approximately 33.55 times during the year. This represents a slight increase from the previous year's turnover of 32.19.
Looking further back, there was a notable decrease in receivables turnover in the fiscal year ending August 28, 2021, with a ratio of 38.66, compared to 34.63 in the prior year and 38.39 in the fiscal year ending August 31, 2019.
Overall, the fluctuation in receivables turnover suggests variability in the company's ability to collect its accounts receivable efficiently. Further analysis of the reasons behind these fluctuations and comparison with industry benchmarks may provide additional insights into Autozone Inc.'s receivables management.
Peer comparison
Aug 26, 2023