CoreCivic Inc (CXW)
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 | 1,896,635 | 1,876,822 | 1,857,328 | 1,850,343 | 1,845,329 | 1,846,029 | 1,853,012 | 1,860,886 | 1,862,616 | 1,863,960 | 1,861,032 | 1,869,102 | 1,905,485 | 1,929,817 | 1,970,073 | 1,987,726 | 1,980,689 | 1,965,073 | 1,919,279 | 1,878,914 |
| Receivables | US$ in thousands | 312,174 | 269,416 | 261,539 | 256,175 | 312,435 | 293,395 | 273,839 | 262,467 | 282,809 | 228,889 | 282,227 | 259,620 | 267,705 | 264,745 | 246,114 | 272,598 | 280,785 | 271,594 | 272,423 | 273,567 |
| Receivables turnover | 6.08 | 6.97 | 7.10 | 7.22 | 5.91 | 6.29 | 6.77 | 7.09 | 6.59 | 8.14 | 6.59 | 7.20 | 7.12 | 7.29 | 8.00 | 7.29 | 7.05 | 7.24 | 7.05 | 6.87 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,896,635K ÷ $312,174K
= 6.08
The receivables turnover ratio for CoreCivic Inc has shown a relatively consistent trend over the past eight quarters, ranging from 5.91 to 7.22. This ratio measures the efficiency of the company in collecting payments from its customers or clients over a specific period. A higher turnover ratio indicates that the company is collecting its accounts receivable more quickly.
The average receivables turnover ratio over these eight quarters is approximately 6.70. This suggests that, on average, CoreCivic Inc collects its accounts receivable approximately 6.70 times per year. The higher-than-average ratios in Q2 and Q3 of 2023 indicate improved efficiency in collecting receivables during those quarters.
Overall, CoreCivic Inc appears to have a healthy receivables turnover ratio, indicating efficient management of accounts receivable and the timely collection of payments. A consistent or improving trend in this ratio is generally a positive sign of the company's financial health and operational efficiency in managing its receivables.
Peer comparison
Dec 31, 2023