Exponent Inc (EXPO)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 536,766 | 513,293 | 466,269 | 399,900 | 417,199 |
| Receivables | US$ in thousands | 167,360 | 170,114 | 139,861 | 111,565 | 120,138 |
| Receivables turnover | 3.21 | 3.02 | 3.33 | 3.58 | 3.47 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $536,766K ÷ $167,360K
= 3.21
The receivables turnover ratio for Exponent Inc has shown some fluctuations over the past five years. In 2023, the receivables turnover ratio was 3.21, which indicates that the company collected its accounts receivable approximately 3.21 times during the year. This represents a slight improvement from 2022 when the ratio was 3.02.
Comparing the 2023 ratio to the historical trend, it is lower than the ratios reported in 2021 and 2020, which were 3.33 and 3.58, respectively. This suggests that Exponent Inc took slightly longer to collect its accounts receivable in 2023 compared to those two years. However, it is higher than the ratio recorded in 2019, which was 3.47, indicating some level of improvement in receivables turnover efficiency over the last year.
Overall, while there has been some variability in the receivables turnover ratio for Exponent Inc over the past five years, the company's ability to collect outstanding receivables has generally remained steady with a marginal improvement in 2023 compared to the previous year. It would be beneficial for the company to continue monitoring its receivables turnover to ensure a healthy balance between sales and collection efficiency.
Peer comparison
Dec 31, 2023