The Cheesecake Factory (CAKE)

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	2,573,389	2,589,182	2,542,973	2,509,446	3,303,156	3,187,047	3,157,520	3,093,833	2,927,540	2,705,399	2,468,641	1,995,536	1,983,225	2,122,703	2,191,523	2,498,317	2,482,692	2,373,817	2,362,441	2,347,115
Receivables	US$ in thousands	20,670	23,923	22,739	—	21,522	23,692	39,791	36,893	36,173	39,510	34,655	34,973	36,889	71,868	101,945	72,041	30,245	—	—	—
Receivables turnover		124.50	108.23	111.83	—	153.48	134.52	79.35	83.86	80.93	68.47	71.23	57.06	53.76	29.54	21.50	34.68	82.09	—	—	—

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,573,389K ÷ $20,670K
= 124.50

The receivables turnover ratio for The Cheesecake Factory has fluctuated over the past few quarters. It stood at 124.50 at the end of December 2023, indicating that the company collected its accounts receivable approximately 124.50 times during that period. This represents a significant improvement over the turnover of 153.48 in the previous quarter and indicates a more efficient collection of receivables.

However, the ratio was not reported for the quarter ending March 2023, which may suggest data availability issues or a significant change in collection practices during that period.

Looking back further, the trend shows fluctuating ratios, with some quarters performing better than others. The lowest turnover ratio was reported at 21.50 in June 2020, signifying a slower pace of receivables collection during that period. On the other hand, the highest turnover ratio of 153.48 in September 2022 demonstrates a much more efficient collection process.

Overall, the receivables turnover ratio for The Cheesecake Factory has shown variability, reflecting changes in the company's accounts receivable management and collection processes over the analyzed periods. Further analysis would be needed to assess the reasons behind these fluctuations and their implications for the company's overall financial performance and liquidity.