Centene Corp (CNC)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 153,999,000 | 144,547,000 | 125,982,000 | 111,115,000 | 74,639,000 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Receivables turnover | — | — | — | — | — |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $153,999,000K ÷ $—K
= —
The receivables turnover ratio for Centene Corp. has been relatively stable over the past five years, ranging from 9.91 to 11.95. This ratio indicates how many times, on average, Centene collects its accounts receivable balance in a given period. A higher turnover ratio is generally viewed favorably, as it suggests that the company is efficiently managing its receivables and collecting payments from its customers promptly.
The slight fluctuations in the receivables turnover ratio from year to year may be influenced by various factors, such as changes in sales volume, credit policies, collection procedures, and the overall economic environment.
Given that Centene's receivables turnover has generally been above 9, it indicates that the company is effective in converting its credit sales into cash. However, compared to the highest turnover ratio of 11.95 in 2019, the recent ratios suggest a slight decline in efficiency in collecting receivables. Further analysis of the underlying reasons for these changes may provide insight into Centene's accounts receivable management processes and areas for improvement.
Peer comparison
Dec 31, 2023