Doximity Inc (DOCS)
Receivables turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 475,422 | 419,052 | 343,548 |
| Receivables | US$ in thousands | 103,632 | 109,247 | 82,473 |
| Receivables turnover | 4.59 | 3.84 | 4.17 |
March 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $475,422K ÷ $103,632K
= 4.59
The receivables turnover of Doximity Inc has shown a positive trend over the past three years. In fiscal year 2024, the company's receivables turnover ratio increased to 4.59 times, indicating that Doximity Inc collected its accounts receivables approximately 4.59 times during the year.
This improvement in the receivables turnover ratio suggests that the company has been more efficient in collecting its outstanding receivables in 2024 compared to the previous years. A higher receivables turnover ratio generally indicates that the company is effectively managing its credit sales and collecting payments from customers in a timely manner.
Overall, the increasing trend in receivables turnover is a positive sign of Doximity Inc's liquidity and operational efficiency in managing its accounts receivables effectively.
Peer comparison
Mar 31, 2024