Carrier Global Corp (CARR)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 21,752,000 | 21,786,000 | 21,506,000 | 20,725,000 | 21,238,000 | 21,272,000 | 21,162,000 | 21,391,000 | 20,288,000 | 20,074,000 | 19,645,000 | 18,092,000 | 17,250,000 | |||
| Receivables | US$ in thousands | 2,481,000 | 3,030,000 | 3,212,000 | 3,032,000 | 2,833,000 | 3,003,000 | 2,823,000 | 2,599,000 | 2,403,000 | 2,669,000 | 3,128,000 | 2,831,000 | 2,781,000 | 2,872,000 | 2,665,000 | 2,674,000 |
| Receivables turnover | 8.77 | 7.19 | 6.70 | 6.84 | 7.50 | 7.08 | 7.50 | 8.23 | 8.44 | 7.52 | 6.28 | 6.39 | 6.20 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $21,752,000K ÷ $2,481,000K
= 8.77
The receivables turnover ratio measures how efficiently a company collects its outstanding accounts receivable during a specific period. In the case of Carrier Global Corp, the trend of the receivables turnover ratio fluctuated over the last eight quarters.
In Q4 2023, the receivables turnover ratio was 8.91, which indicates that Carrier Global Corp collected its accounts receivable approximately 8.91 times during the quarter. This represents an improvement from the previous quarter's ratio of 7.29.
Historically, the company had experienced variations in its receivables turnover ratio. While there were some quarters with lower turnover ratios, such as Q2 2023 (6.79) and Q3 2022 (6.81), there were also periods when the ratio was relatively higher, like Q1 2022 (7.91) and Q4 2022 (7.21).
Overall, the receivables turnover ratio for Carrier Global Corp has shown some fluctuations, but the recent increase in Q4 2023 suggests that the company may have become more efficient in collecting its accounts receivable compared to the previous quarter. It is important to continue monitoring this ratio to assess the company's effectiveness in managing its receivables going forward.
Peer comparison
Dec 31, 2023