Crown Holdings Inc (CCK)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,532,000 | 12,632,000 | 11,118,000 | 11,274,000 | 11,665,000 |
| Receivables | US$ in thousands | 1,719,000 | 1,843,000 | 1,889,000 | 1,522,000 | 1,528,000 |
| Receivables turnover | 6.71 | 6.85 | 5.89 | 7.41 | 7.63 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $11,532,000K ÷ $1,719,000K
= 6.71
The receivables turnover ratio for Crown Holdings, Inc. has fluctuated over the past five years, ranging from 6.03 to 7.63. Generally, a higher receivables turnover ratio indicates that the company is able to efficiently collect its accounts receivable from customers. In this case, the ratios have been relatively stable, with no significant upward or downward trend evident.
The average receivables turnover ratio over the five-year period is 6.83, indicating that, on average, Crown Holdings collected its accounts receivable approximately 6.83 times per year. This suggests that the company has a moderate level of efficiency in managing its accounts receivable.
However, it is important to note that the interpretation of the receivables turnover ratio should be done in conjunction with other financial ratios and industry benchmarks to gain a comprehensive understanding of Crown Holdings, Inc.'s overall financial health and operational efficiency.
Peer comparison
Dec 31, 2023