Biomarin Pharmaceutical Inc (BMRN)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,374,190 | 2,068,670 | 1,832,750 | 1,823,140 | 1,680,280 |
| Receivables | US$ in thousands | 633,704 | 461,316 | 373,399 | 448,351 | 377,404 |
| Receivables turnover | 3.75 | 4.48 | 4.91 | 4.07 | 4.45 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $2,374,190K ÷ $633,704K
= 3.75
Biomarin Pharmaceutical Inc's receivables turnover has shown some fluctuations over the past five years. The company's ability to collect its receivables has decreased from 4.48 in 2022 to 3.75 in 2023. This decline may indicate that it took Biomarin Pharmaceutical Inc longer to collect its accounts receivable in 2023 compared to the previous year.
Despite the decrease in 2023, the company's receivables turnover has generally been within a range of 4.07 to 4.91 over the past five years, indicating that Biomarin Pharmaceutical Inc has been effective in converting its accounts receivable into cash. However, a lower receivables turnover ratio could suggest potential issues with the company's credit policies, collection efforts, or the creditworthiness of its customers.
Overall, Biomarin Pharmaceutical Inc's receivables turnover ratio should be monitored closely to ensure efficient management of receivables and maintain healthy cash flow.
Peer comparison
Dec 31, 2023