Cognex Corporation (CGNX)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	825,325	1,004,230	1,034,800	812,977	725,116
Receivables	US$ in thousands	116,566	127,596	134,338	131,328	108,229
Receivables turnover		7.08	7.87	7.70	6.19	6.70

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $825,325K ÷ $116,566K
= 7.08

The trend in Cognex Corp.'s receivables turnover over the past five years shows fluctuation but generally a positive performance. The company's receivables turnover ratio, which measures how efficiently the company collects outstanding receivables from its customers, has ranged between 6.18 and 7.88.

The receivables turnover indicates how many times during a period the company collects its average accounts receivable balance. A higher turnover ratio suggests that the company is collecting its receivables more quickly, which is favorable as it indicates strong efficiency in managing its accounts receivable.

In 2023, Cognex Corp.'s receivables turnover ratio stood at 7.19, reflecting that the company collected its outstanding receivables approximately 7.19 times during the year. This is slightly lower compared to the previous year but still indicative of a generally efficient accounts receivable management.

Overall, Cognex Corp. has maintained a relatively stable and robust performance in terms of receivables turnover, showcasing a consistent ability to efficiently manage and collect its accounts receivable balance in the past five years.