3D Systems Corporation (DDD)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	512,487	530,813	965,674	548,190	622,454
Receivables	US$ in thousands	106,919	93,886	106,540	114,254	109,408
Receivables turnover		4.79	5.65	9.06	4.80	5.69

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $512,487K ÷ $106,919K
= 4.79

The receivables turnover ratio measures how efficiently a company is collecting its accounts receivable during a specific period. A higher ratio indicates that the company is collecting its receivables more quickly.

Analyzing 3D Systems Corporation's receivables turnover over the past five years, we observe fluctuations in the ratio:

1. In 2023, the receivables turnover ratio decreased to 4.79 from 5.65 in 2022. This decline suggests that the company took longer to collect its accounts receivable compared to the previous year, indicating a potential slowdown in collections efficiency.

2. In 2022, the receivables turnover ratio improved significantly to 5.65 from 9.06 in 2021. This increase indicates that the company was more effective in collecting its receivables in 2022 compared to 2021, reflecting improved efficiency in managing accounts receivable.

3. In 2021, the receivables turnover ratio was relatively high at 9.06, indicating that the company collected its accounts receivable more rapidly compared to the previous year. This suggests strong efficiency in collecting receivables during that period.

4. In 2020, the receivables turnover ratio was 4.80, slightly lower than in 2019 (5.69). This decrease could suggest that the company took slightly longer to collect its accounts receivable in 2020 compared to 2019.

5. In 2019, the receivables turnover ratio was 5.69, indicating that the company collected its accounts receivable efficiently during that year.

Overall, fluctuations in the receivables turnover ratio for 3D Systems Corporation over the past five years suggest varying efficiency levels in collecting accounts receivable. It is important for the company to monitor and manage its collections effectively to ensure timely cash flow and financial stability.