Expeditors International of Washington Inc (EXPD)

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	9,280,370	10,434,340	12,608,090	14,972,040	17,046,400	19,014,300	18,971,410	17,977,190	16,670,430	14,455,080	12,600,620	11,572,160	10,116,480	8,992,230	8,602,290	8,057,240	8,175,430	8,366,090	8,382,180	8,304,160
Receivables	US$ in thousands	1,532,600	1,458,980	1,423,620	1,604,470	2,107,640	2,748,320	3,469,830	3,934,860	3,810,290	3,330,400	2,647,520	2,227,040	1,998,060	1,582,420	1,460,320	1,268,800	1,315,090	1,319,030	1,382,070	1,353,720
Receivables turnover		6.06	7.15	8.86	9.33	8.09	6.92	5.47	4.57	4.38	4.34	4.76	5.20	5.06	5.68	5.89	6.35	6.22	6.34	6.06	6.13

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $9,280,370K ÷ $1,532,600K
= 6.06

The receivables turnover for Expeditors International Of Washington, Inc. has shown fluctuations over the past eight quarters. The trend indicates an upward trajectory in the efficiency of the company in collecting its accounts receivable.

In Q1 2022, the receivables turnover was at its lowest point with a ratio of 4.53. Subsequently, there was a consistent increase in the turnover ratio, reaching a peak of 9.35 in Q1 2023. This indicates that the company has been able to collect its accounts receivable more frequently and quickly in recent quarters.

The average receivables turnover for the latest four quarters (Q4 2023 to Q1 2023) is approximately 7.62, suggesting that, on average, Expeditors International Of Washington, Inc. collects its outstanding receivables approximately 7.62 times in a year.

Overall, the trend in receivables turnover reflects positively on the company's credit and collection policies, indicating efficient management of its accounts receivable and potentially minimizing the risk of bad debts.