CommVault Systems Inc (CVLT)

Receivables turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	839,247	784,590	769,591	723,472	670,885
Receivables	US$ in thousands	222,683	210,441	194,238	188,126	146,990
Receivables turnover		3.77	3.73	3.96	3.85	4.56

March 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $839,247K ÷ $222,683K
= 3.77

CommVault Systems Inc's receivables turnover ratio has shown some fluctuation over the past five years. As of March 31, 2024, the receivables turnover ratio stands at 3.77, slightly higher than the previous year's ratio of 3.73. This indicates that the company collected its accounts receivable approximately 3.77 times during the fiscal year, which may suggest an improvement in the efficiency of the company's accounts receivable management.

Comparing the current ratio to previous years, we observe a slight decrease from the ratio of 3.96 in 2022 and 3.85 in 2021. However, the current ratio is notably lower than the ratio of 4.56 in 2020, indicating a potential deterioration in the efficiency of the company's collection process over the years.

Overall, the trend in CommVault Systems Inc's receivables turnover ratio shows some variability, with a general downward trend in recent years. It is important for the company to closely monitor and manage its accounts receivable turnover to ensure timely collection of outstanding dues and maintain healthy liquidity levels.