The Cheesecake Factory (CAKE)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,439,500 | 3,303,160 | 2,927,540 | 1,982,420 | 2,482,090 |
| Receivables | US$ in thousands | 20,670 | 21,522 | 36,173 | 36,889 | 30,245 |
| Receivables turnover | 166.40 | 153.48 | 80.93 | 53.74 | 82.07 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,439,500K ÷ $20,670K
= 166.40
The receivables turnover ratio for The Cheesecake Factory has shown a fluctuating trend over the past five years. The ratio increased significantly from 2019 to 2020, indicating a more efficient collection of receivables during that period. However, in 2021, there was a notable decrease in the ratio, suggesting a slower turnaround of receivables compared to the previous year.
The ratio saw a sharp increase in 2022, reaching its highest point in the past five years, signaling a substantial improvement in the company's ability to collect payments owed by customers. This efficiency was maintained in 2023, with the receivables turnover ratio remaining at a high level, indicating a continued strong performance in collecting receivables.
Overall, the upward trend in the receivables turnover ratio in recent years suggests that The Cheesecake Factory has been effective in managing its accounts receivables and converting them into cash, which is a positive indicator of the company's liquidity and financial health.
Peer comparison
Dec 31, 2023