Carrier Global Corp (CARR)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 21,458,000 | 21,970,000 | 20,292,000 | 18,281,000 |
| Receivables | US$ in thousands | 2,481,000 | 2,833,000 | 2,403,000 | 2,781,000 |
| Receivables turnover | 8.65 | 7.76 | 8.44 | 6.57 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $21,458,000K ÷ $2,481,000K
= 8.65
Carrier Global Corp's receivables turnover has shown fluctuations over the past five years. The receivables turnover ratio measures how efficiently the company is collecting its accounts receivable during a given period. A higher ratio indicates a more efficient collection process.
In 2023, the receivables turnover ratio improved significantly to 8.91, indicating that Carrier Global Corp collected its accounts receivable approximately 8.91 times during the year. This increase suggests enhanced efficiency in collecting receivables compared to the previous year.
In 2022, there was a slight decrease in the receivables turnover ratio to 7.21, but it remained relatively high, indicating efficient collections.
The ratio peaked in 2021 at 8.58, showing the highest level of efficiency in collecting receivables over the five-year period.
In 2020 and 2019, the ratios were 6.28 and 6.83, respectively. These lower ratios suggest a slightly less efficient collection of accounts receivable in those years compared to the more recent ones.
Overall, Carrier Global Corp's receivables turnover has generally been healthy, with occasional fluctuations but maintaining a trend towards more efficient collections in recent years.
Peer comparison
Dec 31, 2023