CVS Health Corp (CVS)
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 | 357,776,000 | 347,809,000 | 339,204,000 | 330,919,000 | 322,467,000 | 315,225,000 | 307,860,000 | 299,840,000 | 292,111,000 | 285,061,000 | 278,323,000 | 271,048,000 | 268,706,000 | 266,041,000 | 263,795,000 | 261,885,000 | 256,776,000 | 244,311,000 | 226,991,000 | 210,482,000 |
| Receivables | US$ in thousands | 39,121,000 | 35,530,000 | 32,153,000 | 30,651,000 | 30,725,000 | 28,964,000 | 29,741,000 | 28,981,000 | 27,820,000 | 28,050,000 | 26,410,000 | 26,305,000 | 23,940,000 | 26,987,000 | 25,321,000 | 25,875,000 | 21,998,000 | 21,796,000 | 18,926,000 | 20,377,000 |
| Receivables turnover | 9.15 | 9.79 | 10.55 | 10.80 | 10.50 | 10.88 | 10.35 | 10.35 | 10.50 | 10.16 | 10.54 | 10.30 | 11.22 | 9.86 | 10.42 | 10.12 | 11.67 | 11.21 | 11.99 | 10.33 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $357,776,000K ÷ $39,121,000K
= 9.15
The receivables turnover ratio of CVS Health Corp has shown a gradual decline over the past four quarters, from 11.82 in Q4 2022 to 10.16 in Q4 2023. This suggests that the company is taking longer to collect outstanding receivables from customers. However, it is notable that the ratio has consistently remained above 10, indicating that CVS Health Corp is efficient in managing its accounts receivable and converting them into cash. Overall, while there has been a slight decrease in receivables turnover, CVS Health Corp's ability to collect receivables efficiently remains strong.
Peer comparison
Dec 31, 2023
Company name
Symbol
Receivables turnover
CVS Health Corp
CVS
9.15
Walgreens Boots Alliance Inc
WBA
25.37