Cognex Corporation (CGNX)

Receivables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	915,950	825,325	1,004,230	1,034,800	812,977
Receivables	US$ in thousands	146,414	116,566	127,596	134,338	131,328
Receivables turnover		6.26	7.08	7.87	7.70	6.19

December 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $915,950K ÷ $146,414K
= 6.26

Based on the data provided, the receivables turnover ratio for Cognex Corporation has exhibited a fluctuating trend over the past five years. The company experienced a gradual improvement in its receivables turnover ratio from 6.19 in December 2020 to 7.70 in December 2021, indicating that Cognex was able to collect its accounts receivable more efficiently during that period.

Subsequently, the receivables turnover ratio continued to increase to 7.87 in December 2022, suggesting a further enhancement in the company's ability to convert its receivables into cash. However, there was a slight decline in the ratio to 7.08 in December 2023, signaling a potential slowdown in the collection of accounts receivable.

By the end of December 2024, the receivables turnover ratio decreased to 6.26, which may indicate that Cognex faced challenges in efficiently collecting its receivables during that period.

Overall, Cognex Corporation's receivables turnover ratio has shown variations over the years, reflecting fluctuations in the company's effectiveness in managing and collecting its accounts receivable. It is essential for the company to continue monitoring this ratio to ensure optimal cash flow management and efficient working capital utilization.