Gogo Inc (GOGO)
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 | 388,512 | 410,184 | 416,797 | 411,670 | 386,744 | 358,503 | 338,195 | 316,166 | 274,727 | 260,061 | 219,158 | 218,483 | 324,857 | 468,533 | 603,649 | 657,862 | 678,320 | 674,234 | 690,306 | 767,550 |
| Receivables | US$ in thousands | 48,233 | 49,356 | 50,587 | 46,698 | 54,210 | 49,234 | 44,961 | 43,217 | 39,666 | 42,290 | 39,999 | 36,232 | 39,833 | 32,497 | 71,684 | 92,619 | 101,360 | 102,708 | 113,975 | 123,791 |
| Receivables turnover | 8.05 | 8.31 | 8.24 | 8.82 | 7.13 | 7.28 | 7.52 | 7.32 | 6.93 | 6.15 | 5.48 | 6.03 | 8.16 | 14.42 | 8.42 | 7.10 | 6.69 | 6.56 | 6.06 | 6.20 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $388,512K ÷ $48,233K
= 8.05
Receivables turnover for Gogo Inc has shown fluctuations over the past eight quarters. The company's ability to convert its accounts receivable into cash has ranged from a low of 5.94 times in Q2 2022 to a high of 8.78 times in Q1 2023.
In Q4 2023, the receivables turnover decreased to 5.98 times from 6.22 times in Q3 2023. This indicates that the company took longer to collect its outstanding receivables in the most recent quarter compared to the previous quarter.
It is important to note that a higher receivables turnover ratio generally indicates that a company is more efficient in collecting cash from its customers, while a lower ratio may suggest potential issues with collecting outstanding receivables in a timely manner.
To better assess the trend and efficiency of Gogo Inc in managing its accounts receivable, further analysis over a longer period and in conjunction with other financial ratios would be beneficial.
Peer comparison
Dec 31, 2023