Granite Construction Incorporated (GVA)
Days of sales outstanding (DSO)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 11.64 | 7.91 | 8.90 | 13.74 | 11.71 | 8.61 | 10.29 | 15.29 | 13.05 | 9.07 | 11.43 | 15.55 | 13.82 | 9.22 | 10.31 | 12.37 | 10.74 | 8.26 | 10.31 | 15.36 | |
| DSO | days | 31.35 | 46.13 | 41.01 | 26.56 | 31.18 | 42.37 | 35.46 | 23.87 | 27.97 | 40.26 | 31.95 | 23.47 | 26.41 | 39.59 | 35.39 | 29.50 | 33.97 | 44.20 | 35.41 | 23.76 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 11.64
= 31.35
The days of sales outstanding (DSO) for Granite Construction Inc. have shown variability over the past eight quarters. In Q4 2023, the DSO stood at 62.27 days, representing a decrease from the previous quarter's 76.38 days. This indicates that the company took fewer days to collect its accounts receivable in the most recent quarter.
Comparing Q4 2023 to Q1 2023, there has been a notable improvement in DSO, as it decreased from 43.75 days to 62.27 days. This suggests that the company has become more efficient in collecting its receivables over this period.
While Q4 2023 exhibited a lower DSO compared to Q2 2023 and Q3 2023, it is worth noting that the DSO figure for Q4 2023 is still higher than the figures for Q1 and Q4 2022. This indicates that there may be room for further improvement in the company's accounts receivable management processes.
Overall, the trend in DSO for Granite Construction Inc. suggests some level of fluctuation in the efficiency of its accounts receivable management. It would be beneficial for the company to continue monitoring and striving to reduce DSO to ensure timely collection of outstanding payments.
Peer comparison
Dec 31, 2023