Enphase Energy Inc (ENPH)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,290,790 | 2,330,850 | 1,382,050 | 774,425 | 624,333 |
| Receivables | US$ in thousands | 445,959 | 440,896 | 333,626 | 182,165 | 145,413 |
| Receivables turnover | 5.14 | 5.29 | 4.14 | 4.25 | 4.29 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $2,290,790K ÷ $445,959K
= 5.14
The receivables turnover ratio for Enphase Energy Inc has shown a fluctuating trend over the past five years. In 2023, the company's receivables turnover ratio decreased to 5.14 compared to 5.29 in 2022. This implies that the company collected its accounts receivable approximately 5.14 times during the year, indicating a slight slowdown in the collection of receivables.
When compared to 2021, where the receivables turnover ratio was 4.14, there has been an improvement in 2023. This suggests that Enphase Energy Inc was able to collect its receivables more efficiently in 2023 than in 2021.
However, it is important to note that the current ratio of 5.14 in 2023 is still higher than the ratios for 2020 (4.25) and 2019 (4.29). This indicates that the company has been relatively effective in managing its accounts receivable turnover in recent years.
Overall, while there was a slight decrease in the receivables turnover ratio in 2023 compared to the previous year, Enphase Energy Inc has shown a generally stable and consistent performance in collecting its receivables over the past five years.
Peer comparison
Dec 31, 2023