Graphic Packaging Holding Company (GPK)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 9,428,000 | 9,440,000 | 7,156,000 | 6,560,000 | 6,160,000 |
| Receivables | US$ in thousands | 835,000 | 879,000 | 859,000 | 654,000 | 504,500 |
| Receivables turnover | 11.29 | 10.74 | 8.33 | 10.03 | 12.21 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $9,428,000K ÷ $835,000K
= 11.29
The receivables turnover ratio for Graphic Packaging Holding Co has shown fluctuations over the past five years. The trend indicates that the company is collecting its accounts receivable more frequently in recent years.
In 2023, the receivables turnover ratio increased to 11.29 times from 10.74 times in 2022, reflecting an improvement in the efficiency of collecting outstanding payments from customers. This indicates that Graphic Packaging Holding Co is converting its accounts receivable into cash more rapidly in 2023 compared to the previous year.
Furthermore, the receivables turnover ratio in 2023 is higher than the ratios for 2021 and 2020, suggesting a positive trend in managing receivables effectively. However, it is slightly lower than the ratio in 2019, indicating a relative decrease in efficiency in collecting receivables compared to that year.
Overall, the increasing trend in receivables turnover for Graphic Packaging Holding Co indicates an improvement in the company's liquidity position and its ability to collect outstanding payments promptly.
Peer comparison
Dec 31, 2023