CH Robinson Worldwide Inc (CHRW)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 17,596,400 | 24,696,600 | 23,102,100 | 16,207,100 | 15,309,500 |
| Receivables | US$ in thousands | 2,381,960 | 2,991,750 | 3,963,490 | 2,449,580 | 1,974,380 |
| Receivables turnover | 7.39 | 8.25 | 5.83 | 6.62 | 7.75 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $17,596,400K ÷ $2,381,960K
= 7.39
The receivables turnover ratio of C.H. Robinson Worldwide, Inc. has exhibited fluctuations over the past five years. In 2023, the company's receivables turnover ratio was 7.39, indicating that the company collected its outstanding receivables approximately 7.39 times during the year. This represents a decrease from the previous year's ratio of 8.25.
The downward trend from 2022 to 2023 may suggest that the company took longer to collect payments from its customers in 2023 compared to 2022. However, it is worth noting that the 2023 ratio of 7.39 is still higher than the ratios reported in 2021 (5.83) and 2020 (6.62).
Overall, while the receivables turnover ratio fluctuated over the past five years, the company generally displayed a reasonable ability to collect its outstanding receivables efficiently. Nonetheless, further analysis of the company's receivables management practices and payment terms may provide additional insights into the changing dynamics of its receivables turnover.
Peer comparison
Dec 31, 2023