CTS Corporation (CTS)

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	550,422	568,009	585,368	585,168	586,869	577,119	547,590	532,193	512,925	503,412	494,807	449,419	424,067	416,089	417,963	454,450	469,000	474,033	477,241	474,578
Receivables	US$ in thousands	78,569	89,556	97,519	97,707	90,935	97,004	98,949	95,107	82,191	78,210	80,795	81,571	80,981	76,431	59,798	71,250	78,008	80,789	84,876	82,326
Receivables turnover		7.01	6.34	6.00	5.99	6.45	5.95	5.53	5.60	6.24	6.44	6.12	5.51	5.24	5.44	6.99	6.38	6.01	5.87	5.62	5.76

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $550,422K ÷ $78,569K
= 7.01

CTS Corp.'s receivables turnover ratio has shown consistency in the recent quarters, ranging from 5.95 to 7.01. This indicates that the company is efficient in collecting payments from its customers. The higher turnover ratios in Q4 2023 and Q4 2022 suggest that CTS Corp. was able to convert its accounts receivables into cash more frequently during those periods, which is a positive sign for its liquidity and cash flow management. Overall, the trend in the receivables turnover ratio of CTS Corp. demonstrates effective credit management and timely collection practices.