Gates Industrial Corporation plc (GTES)
Receivables turnover
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,484,300 | 3,535,100 | 3,570,200 | 3,600,200 | 3,588,000 | 3,558,500 | 3,554,200 | 3,476,500 | 3,478,200 | 3,486,500 | 3,474,400 | 3,453,000 | 3,302,800 | 2,964,200 | 2,793,000 | 2,724,500 | 2,758,900 | 2,992,300 | 3,087,100 | 3,153,500 |
| Receivables | US$ in thousands | 862,400 | 841,900 | 798,600 | 871,900 | 914,600 | — | 821,600 | — | — | — | 727,200 | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 4.04 | 4.20 | 4.47 | 4.13 | 3.92 | — | 4.33 | — | — | — | 4.78 | — | — | — | — | — | — | — | — | — |
June 30, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,484,300K ÷ $862,400K
= 4.04
The analysis of Gates Industrial Corporation plc's receivables turnover reveals a fluctuating trend over the past few quarters. The receivables turnover ratio indicates how efficiently the company is able to collect its accounts receivable during a specific period.
From the available data, we observe that the receivables turnover ratio varied between 3.92 to 4.78, with the highest turnover ratio recorded in the fourth quarter of 2021. This implies that, on average, Gates Industrial Corporation plc collected its accounts receivable approximately 4 times a year during the reported periods.
It is notable that there are missing data points for some quarters, indicating incomplete information. However, based on the available figures, the trend suggests a general consistency in the efficiency of accounts receivable collection, with some fluctuations in performance.
A higher receivables turnover ratio is generally favorable as it indicates a shorter time for the company to collect its outstanding receivables. Conversely, a lower turnover ratio could suggest potential issues with collection efficiency or extending credit to customers.
Further analysis of the underlying reasons for the fluctuations in the receivables turnover ratio would provide valuable insights into the company's credit and collection policies, customer payment behavior, and overall financial health.
Peer comparison
Jun 30, 2024