Dorman Products Inc (DORM)

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	1,893,680	1,901,551	1,836,706	1,784,557	1,718,167	1,624,260	1,560,827	1,455,608	1,343,272	1,247,556	1,200,483	1,123,030	1,095,246	1,033,597	986,773	1,007,766	991,329	1,012,103	1,006,261	1,228,380
Receivables	US$ in thousands	526,867	484,447	452,603	—	427,385	433,229	417,354	456,070	472,764	463,113	446,242	452,520	460,878	405,312	241,901	423,301	391,810	372,356	376,639	297,509
Receivables turnover		3.59	3.93	4.06	—	4.02	3.75	3.74	3.19	2.84	2.69	2.69	2.48	2.38	2.55	4.08	2.38	2.53	2.72	2.67	4.13

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,893,680K ÷ $526,867K
= 3.59

The receivables turnover ratio for Dorman Products Inc has been fluctuating over the past eight quarters, ranging from a low of 3.20 in Q1 2022 to a high of 4.19 in Q1 2023. The average receivables turnover ratio over this period was 3.85, indicating that, on average, the company collected its accounts receivable approximately 3.85 times during the year.

A higher receivables turnover ratio generally indicates that the company is more efficient in collecting its accounts receivable. In this case, Dorman Products Inc has shown a positive trend with an increasing receivables turnover ratio over the past two quarters.

It is important to note that the interpretation of the receivables turnover ratio should be considered in conjunction with other financial metrics and industry benchmarks to gain a more comprehensive understanding of the company's financial health and efficiency in managing its accounts receivable.