Comfort Systems USA Inc (FIX)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,206,760 | 4,140,360 | 3,073,640 | 2,856,660 | 2,615,280 |
| Receivables | US$ in thousands | 153,871 | 4,828,480 | 3,771,900 | 3,137,950 | 2,549,310 |
| Receivables turnover | 33.84 | 0.86 | 0.81 | 0.91 | 1.03 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $5,206,760K ÷ $153,871K
= 33.84
The receivables turnover ratio for Comfort Systems USA, Inc. has shown some fluctuations over the past five years. In 2023, the ratio was 3.28, which indicates that the company collected its accounts receivable approximately 3.28 times during the year. This represents a slight decrease compared to 2022 when the ratio was 3.55. The decrease in receivables turnover from 2022 to 2023 may suggest that the company took longer to collect its outstanding receivables in the most recent year.
Looking further back, the trend in receivables turnover has varied over the years. In 2021, the ratio was 3.33, lower than in 2020 (3.92) but higher than in 2019 (3.66). This fluctuation suggests some inconsistency in the company's collection of accounts receivable over the years.
Overall, while the receivables turnover ratio provides insight into how efficiently the company is collecting its receivables, it is essential to consider other factors and trends in conjunction with this ratio to gain a comprehensive understanding of Comfort Systems USA, Inc.'s financial performance and management of its accounts receivable.
Peer comparison
Dec 31, 2023