Dover Corporation (DOV)
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 | 8,306,830 | 8,343,940 | 8,351,560 | 8,417,010 | 8,391,630 | 8,247,240 | 8,110,580 | 7,983,870 | 7,805,410 | 7,618,220 | 7,346,360 | 6,811,020 | 6,601,570 | 6,596,770 | 6,702,130 | 7,043,160 | 7,136,400 | 7,169,760 | 7,091,820 | 7,079,200 |
| Receivables | US$ in thousands | 1,432,040 | 1,548,680 | 1,561,160 | 1,460,970 | 1,516,870 | 1,497,060 | 1,514,460 | 1,446,670 | 1,347,510 | 1,351,140 | 1,329,050 | 1,240,520 | 1,137,220 | 1,203,430 | 1,142,580 | 1,222,150 | 1,217,190 | 1,269,150 | 1,288,760 | 1,272,050 |
| Receivables turnover | 5.80 | 5.39 | 5.35 | 5.76 | 5.53 | 5.51 | 5.36 | 5.52 | 5.79 | 5.64 | 5.53 | 5.49 | 5.81 | 5.48 | 5.87 | 5.76 | 5.86 | 5.65 | 5.50 | 5.57 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $8,306,830K ÷ $1,432,040K
= 5.80
The receivables turnover ratio represents how efficiently Dover Corp. is collecting outstanding receivables from its customers. A higher receivables turnover indicates that the company is effectively managing its credit sales and collecting payments in a timely manner.
Analyzing the data provided, we observe that Dover Corp.'s receivables turnover has been relatively stable over the past eight quarters, ranging between 5.43 and 5.89. This signifies consistent efficiency in the company's accounts receivable collection process.
Furthermore, comparing the most recent data point of 5.89 in Q4 2023 with the historical trend, we can see a slight increase in receivables turnover, reflecting potential improvements in Dover Corp.'s credit management practices or better customer payment behavior during this period.
Overall, Dover Corp.'s receivables turnover ratios suggest that the company has been successful in converting its credit sales into cash, with a consistent and reasonably high level of efficiency in managing its accounts receivable turnover.
Peer comparison
Dec 31, 2023