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.
Peer comparison
Dec 31, 2023
Company name
Symbol
Receivables turnover
Chemed Corp
CHE
12.48
Adapthealth Corp
AHCO
6.72
Addus HomeCare Corporation
ADUS
9.11
Amedisys Inc
AMED
6.81
Option Care Health Inc
OPCH
9.11