Chemed Corp (CHE)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,264,420	2,134,960	2,139,260	2,079,580	1,938,560
Receivables	US$ in thousands	181,511	139,408	137,217	126,853	143,827
Receivables turnover		12.48	15.31	15.59	16.39	13.48

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,264,420K ÷ $181,511K
= 12.48

Chemed Corp.'s receivables turnover has experienced a declining trend over the past five years, decreasing from 16.39 in 2020 to 12.48 in 2023. This suggests that the company is collecting its accounts receivable less frequently compared to previous years. A lower receivables turnover may indicate potential issues with the company's credit policies, collection efforts, or the quality of its customers. Further analysis is needed to understand the reasons behind this downward trend and to assess the impact on Chemed Corp.'s overall financial performance and liquidity.