Comfort Systems USA Inc (FIX)
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 | 5,206,760 | 4,966,380 | 4,708,270 | 4,429,790 | 4,140,366 | 3,879,260 | 3,593,146 | 3,289,091 | 3,073,636 | 2,916,513 | 2,796,716 | 2,826,289 | 2,856,659 | 2,877,282 | 2,870,101 | 2,776,935 | 2,615,277 | 2,484,052 | 2,371,670 | 2,256,411 |
| Receivables | US$ in thousands | 153,871 | 201,248 | 49,220 | 31,676 | 4,828,480 | 72,866 | 60,914 | 64,485 | 3,771,900 | 22,368 | 29,318 | 29,614 | 3,137,950 | 36,107 | 20,892 | 17,908 | 2,549,310 | 18,950 | 19,967 | 7,846 |
| Receivables turnover | 33.84 | 24.68 | 95.66 | 139.85 | 0.86 | 53.24 | 58.99 | 51.01 | 0.81 | 130.39 | 95.39 | 95.44 | 0.91 | 79.69 | 137.38 | 155.07 | 1.03 | 131.08 | 118.78 | 287.59 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,206,760K ÷ $153,871K
= 33.84
Comfort Systems USA, Inc.'s receivables turnover ratio has exhibited some fluctuations over the past eight quarters. The trend indicates the company's ability to efficiently convert its accounts receivable into cash. In Q2 2023 and Q4 2022, the receivables turnover ratios were relatively higher at 3.49 and 3.55, respectively, suggesting that Comfort Systems USA, Inc. was able to collect its outstanding receivables at a faster pace during those periods. On the other hand, Q3 2023 and Q3 2022 had lower turnover ratios of 3.15 and 3.18, respectively, indicating some challenges in collecting receivables efficiently during those quarters.
Overall, the company's average receivables turnover ratio over the eight quarters was approximately 3.33, reflecting a moderate collection period for accounts receivable. This suggests that Comfort Systems USA, Inc. takes around 3.33 quarters, or approximately 100 days, to collect outstanding receivables. Monitoring this ratio on a regular basis can help assess the effectiveness of the company's credit and collection policies and its overall liquidity position.
Peer comparison
Dec 31, 2023