Benchmark Electronics Inc (BHE)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,838,980	2,886,330	2,255,320	2,053,130	2,268,100
Receivables	US$ in thousands	449,404	491,965	356,224	309,748	325,543
Receivables turnover		6.32	5.87	6.33	6.63	6.97

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,838,980K ÷ $449,404K
= 6.32

The receivables turnover ratio for Benchmark Electronics Inc. has displayed a varying trend over the past five years. The ratio decreased from 6.97 in 2019 to 6.63 in 2020, further dropping to 5.87 in 2022, before slightly increasing to 6.32 in 2023.

A higher receivables turnover ratio is generally considered favorable as it indicates that the company is able to collect its accounts receivable more frequently throughout the year. In this case, the company's turnover ratios have been relatively consistent within the range of 5.87 to 6.97, suggesting that Benchmark Electronics Inc. has been effective in managing its accounts receivable and collecting payments from its customers in a timely manner over the years.

However, it is important to note that the receivables turnover ratio should be analyzed in conjunction with other financial metrics to get a comprehensive understanding of the company's overall financial performance and efficiency in managing its working capital.