Chemed Corp (CHE)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,264,417	2,225,159	2,187,099	2,164,571	2,134,963	2,129,287	2,141,482	2,142,450	2,139,261	2,131,572	2,121,202	2,091,145	2,079,583	2,068,618	2,020,934	1,992,319	1,938,555	1,873,739	1,837,277	1,805,506
Receivables	US$ in thousands	181,511	168,031	120,314	153,816	139,408	121,662	136,555	117,319	137,217	118,193	123,329	104,748	126,853	110,839	132,487	134,695	143,827	114,480	136,113	119,575
Receivables turnover		12.48	13.24	18.18	14.07	15.31	17.50	15.68	18.26	15.59	18.03	17.20	19.96	16.39	18.66	15.25	14.79	13.48	16.37	13.50	15.10

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,264,417K ÷ $181,511K
= 12.48

The receivables turnover for Chemed Corp. has exhibited fluctuations over the past eight quarters. The highest turnover was observed in Q2 2023 at 18.18, indicating that Chemed Corp. collected its accounts receivable approximately 18 times during that period. This suggests efficient management of accounts receivable and a shorter collection period. On the other hand, the lowest turnover was recorded in Q4 2023 at 12.48, reflecting a longer collection period compared to the other quarters.

Overall, the trend of the receivables turnover ratio for Chemed Corp. shows some variability, with occasional spikes followed by declines. It is essential for the company to monitor and potentially improve its receivables turnover to ensure timely collection of outstanding payments and efficient management of its working capital.