Dril-Quip Inc (DRQ)
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 | 424,060 | 394,530 | 365,427 | 369,798 | 362,070 | 343,168 | 338,024 | 324,843 | 322,945 | 332,267 | 340,565 | 350,214 | 364,973 | 386,193 | 403,125 | 416,487 | 414,806 | 403,687 | 388,717 | 379,770 |
| Receivables | US$ in thousands | 283,998 | 287,642 | 274,624 | 282,496 | 235,932 | 220,199 | 216,324 | 195,923 | 203,584 | 217,072 | 235,817 | 243,319 | 256,520 | 238,851 | 241,260 | 247,950 | 248,160 | 311,719 | 286,907 | 274,856 |
| Receivables turnover | 1.49 | 1.37 | 1.33 | 1.31 | 1.53 | 1.56 | 1.56 | 1.66 | 1.59 | 1.53 | 1.44 | 1.44 | 1.42 | 1.62 | 1.67 | 1.68 | 1.67 | 1.30 | 1.35 | 1.38 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $424,060K ÷ $283,998K
= 1.49
The receivables turnover ratio for Dril-Quip, Inc. has shown some fluctuations over the past eight quarters. It indicates the efficiency with which the company is collecting outstanding receivables from its customers.
Looking at the trend, we can observe a slight decrease in the receivables turnover ratio from Q1 2022 to Q1 2023. This may suggest a longer period for the company to collect its outstanding receivables, which could potentially lead to cash flow challenges or liquidity issues if not managed effectively.
However, it is worth noting that the ratio has been relatively stable over the past few quarters, hovering around 1.3 to 1.6 times. This consistency indicates that Dril-Quip, Inc. has been managing its receivables effectively without major fluctuations or red flags.
Further analysis and comparison with industry benchmarks or historical data could provide more insights into the company's receivables management efficiency. Overall, while the slight decrease in the receivables turnover ratio warrants attention, the relatively stable trend suggests that Dril-Quip, Inc. has been maintaining a reasonable level of efficiency in collecting its outstanding receivables.
Peer comparison
Dec 31, 2023