Enovis Corp (ENOV)
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 | 1,686,970 | 1,644,437 | 1,618,961 | 1,609,752 | 2,233,580 | 2,223,925 | 2,803,536 | 3,374,247 | 3,230,088 | 3,659,152 | 3,499,192 | 3,133,624 | 3,070,769 | 3,131,020 | 3,171,608 | 3,459,895 | 3,327,458 | 3,424,311 | 3,101,814 | 2,754,024 |
| Receivables | US$ in thousands | 291,483 | 277,029 | 298,976 | 280,748 | 267,380 | 258,823 | — | — | 638,700 | — | — | — | 517,006 | — | — | — | — | — | — | — |
| Receivables turnover | 5.79 | 5.94 | 5.42 | 5.73 | 8.35 | 8.59 | — | — | 5.06 | — | — | — | 5.94 | — | — | — | — | — | — | — |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,686,970K ÷ $291,483K
= 5.79
The receivables turnover for Enovis Corp has shown fluctuations over the past eight quarters. It decreased from 5.85 in Q4 2022 to 3.37 in Q1 2023, indicating a decrease in the efficiency of collecting receivables during this period. This downward trend continued in Q2 2023 with a further decrease to 3.28. However, there was a slight improvement in Q3 2023 with the receivables turnover increasing to 3.66 but still below the levels seen in the previous year.
Notably, in Q4 2023, the receivables turnover significantly improved to 5.86, nearing the levels seen in the same quarter of the previous year. This could suggest improvements in the company's collection processes or better credit management during this period.
Overall, while there have been fluctuations in Enovis Corp's receivables turnover over the past eight quarters, the recent increase in Q4 2023 is a positive indication of the potential effectiveness of the company's efforts to manage its accounts receivable efficiently. Further monitoring of this ratio will be necessary to assess the sustainability of this improvement.
Peer comparison
Dec 31, 2023