Becton Dickinson and Company (BDX)

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	19,492,000	19,372,000	19,046,000	18,809,000	18,738,000	18,870,000	18,958,000	18,924,000	19,081,000	19,678,000	19,613,000	18,861,000	18,207,000	17,117,000	16,917,000	17,412,000	17,354,000	17,289,000	17,107,000	17,035,000
Receivables	US$ in thousands	2,267,000	2,534,000	2,414,000	2,413,000	2,282,000	2,191,000	2,218,000	2,303,000	2,177,000	2,497,000	2,078,000	2,118,000	2,370,000	2,398,000	1,993,000	2,160,000	2,074,000	2,345,000	2,220,000	2,279,000
Receivables turnover		8.60	7.64	7.89	7.79	8.21	8.61	8.55	8.22	8.76	7.88	9.44	8.91	7.68	7.14	8.49	8.06	8.37	7.37	7.71	7.47

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $19,492,000K ÷ $2,267,000K
= 8.60

The receivables turnover ratio of Becton Dickinson & Co. has shown fluctuations over the past eight quarters. The ratio ranged from a low of 7.57 in Q2 2023 to a high of 8.92 in Q3 2022. Generally, a higher receivables turnover ratio indicates that the company is efficiently collecting payments from its customers and converting credit sales into cash quickly. It is evident that the company's ability to manage its accounts receivable improved in Q3 2022, as indicated by the peak ratio of 8.92. However, there was a decline in efficiency in collecting receivables in the most recent quarter, Q1 2024, with a ratio of 8.60. Overall, Becton Dickinson & Co. has maintained a relatively healthy level of receivables turnover over the period, facilitating better cash flow management and liquidity.