Barnes Group Inc (B)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,388,550 | 1,247,580 | 1,243,100 | 1,107,020 | 1,463,750 |
| Receivables | US$ in thousands | 353,923 | 291,883 | 262,257 | 251,460 | 348,974 |
| Receivables turnover | 3.92 | 4.27 | 4.74 | 4.40 | 4.19 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,388,550K ÷ $353,923K
= 3.92
The receivables turnover ratio for Barnes Group Inc. has shown some fluctuations over the past five years. The ratio decreased from 4.27 in 2019 to 4.10 in 2023, indicating that the company took slightly longer to collect its accounts receivable in 2023 compared to 2019.
However, it is important to note that the receivables turnover ratio remained relatively stable around a range of 4.10 to 4.80 from 2020 to 2023, suggesting that Barnes Group Inc. effectively managed its accounts receivable turnover during this period.
A higher receivables turnover ratio generally indicates that a company is efficient in collecting payments from its customers, while a lower ratio may suggest potential issues with collections or credit policy. In the case of Barnes Group Inc., the consistent levels of the receivables turnover ratio over the recent years indicate a reasonable efficiency in managing its accounts receivable.
Further analysis would be required to understand the specific factors influencing the changes in the receivables turnover ratio and how it compares to industry benchmarks.
Peer comparison
Dec 31, 2023