Compass Minerals International Inc (CMP)

Receivables turnover

		Mar 31, 2024	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	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	1,095,400	1,143,100	1,155,100	1,182,300	1,183,600	1,218,100	1,200,100	1,140,300	1,364,300	1,241,900	1,185,100	1,235,700	1,213,500	1,404,600	1,467,000	1,461,500	1,439,800	1,426,000	1,409,000	1,659,100
Receivables	US$ in thousands	143,000	168,600	129,500	95,800	159,700	202,200	167,200	108,600	197,300	199,700	91,000	-4,300	185,100	194,200	168,600	225,000	342,400	216,000	178,500	241,300
Receivables turnover		7.66	6.78	8.92	12.34	7.41	6.02	7.18	10.50	6.91	6.22	13.02	—	6.56	7.23	8.70	6.50	4.21	6.60	7.89	6.88

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,095,400K ÷ $143,000K
= 7.66

The receivables turnover ratio of Compass Minerals International Inc fluctuated over the past few quarters, ranging from a low of 4.21 to a high of 13.02. Generally, a higher receivables turnover ratio is desirable as it indicates the company is able to collect its outstanding receivables more quickly.

Looking at the trend, there seems to be some variability in how efficiently the company is collecting its receivables. In some periods, such as Jun 30, 2023, and Mar 31, 2021, the company had a relatively high receivables turnover ratio, suggesting a faster collection of outstanding payments. However, in other periods, like Dec 31, 2019, and Mar 31, 2020, the ratio was lower, indicating a slower collection process.

Overall, the company should continue to monitor and potentially improve its receivables turnover ratio to ensure a steady and efficient cash flow from its credit sales. Further analysis and comparison with industry benchmarks could provide additional insights into the company's performance in managing its accounts receivable effectively.