Avis Budget Group Inc (CAR)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 12,008,000 | 11,994,000 | 9,313,000 | 5,402,000 | 9,172,000 |
| Receivables | US$ in thousands | 900,000 | 810,000 | 775,000 | 647,000 | 911,000 |
| Receivables turnover | 13.34 | 14.81 | 12.02 | 8.35 | 10.07 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $12,008,000K ÷ $900,000K
= 13.34
The receivables turnover ratio for Avis Budget Group Inc has shown fluctuating trends over the past five years. The ratio indicates how efficiently the company is able to collect its outstanding accounts receivable during a specific period.
In 2023, the receivables turnover ratio decreased to 13.34 times from 14.81 times in 2022, suggesting that Avis Budget Group took longer to collect its receivables compared to the previous year. However, the ratio was still relatively high, indicating a good level of efficiency in collecting payments from customers.
Comparing the 2023 ratio to 2021 and 2020, there was an improvement in receivables turnover, indicating that the company became more efficient in collecting receivables during those years.
When comparing 2023 to 2019, the ratio was higher in 2023, showing an improvement in receivables turnover efficiency over the past five years.
Overall, while there was a slight decrease in 2023 compared to 2022, the receivables turnover ratio for Avis Budget Group Inc in 2023 remains relatively strong, indicating effective management of accounts receivable and timely collection of outstanding payments.
Peer comparison
Dec 31, 2023