Fulgent Genetics Inc (FLGT)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 289,213 | 618,968 | 992,584 | 421,712 | 32,528 |
| Receivables | US$ in thousands | 52,451 | 72,585 | 140,315 | 201,667 | 6,571 |
| Receivables turnover | 5.51 | 8.53 | 7.07 | 2.09 | 4.95 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $289,213K ÷ $52,451K
= 5.51
The receivables turnover ratio for Fulgent Genetics Inc has varied over the past five years. In 2023, the ratio stands at 5.66, which indicates that the company collected its accounts receivables approximately 5.66 times during the year. This represents a decrease from the previous year's ratio of 8.24.
The significant drop in receivables turnover from 2022 to 2023 may imply that Fulgent Genetics took longer to collect its outstanding receivables in 2023 compared to 2022. However, it is important to note that a higher turnover ratio is generally desirable as it indicates that the company is collecting its outstanding receivables more efficiently.
When comparing the 2023 ratio to older years, it is higher than in 2020 and 2019 but lower than in 2021. This suggests that the company's efficiency in collecting receivables has improved since 2020 and 2019 but is not as high as it was in 2021.
Overall, the trend in the receivables turnover ratio for Fulgent Genetics Inc shows fluctuations over the years, indicating varying levels of efficiency in collecting accounts receivables. Further analysis and comparison with industry benchmarks can provide additional insights into the company's performance in managing its receivables.
Peer comparison
Dec 31, 2023