Haemonetics Corporation (HAE)

Receivables turnover

		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	Jun 30, 2019
Revenue (ttm)	US$ in thousands	2,596,175	2,424,725	2,393,776	2,373,078	2,323,237	1,114,154	1,068,622	1,011,034	987,485	954,649	935,251	904,840	862,112	882,733	901,332	944,412	989,857	1,000,660	989,046	978,061
Receivables	US$ in thousands	206,562	211,611	174,249	177,117	179,142	181,100	—	—	159,376	—	—	—	127,555	146,939	141,533	141,094	165,207	170,753	176,535	163,339
Receivables turnover		12.57	11.46	13.74	13.40	12.97	6.15	—	—	6.20	—	—	—	6.76	6.01	6.37	6.69	5.99	5.86	5.60	5.99

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,596,175K ÷ $206,562K
= 12.57

The receivables turnover ratio measures how efficiently a company is able to collect its accounts receivable during a certain period. A higher receivables turnover ratio suggests that a company is collecting its outstanding receivables more quickly, which is generally a positive indicator of liquidity and efficiency.

Analyzing the receivables turnover ratio of Haemonetics Corporation over the past few quarters reveals some fluctuations. The company experienced a significant increase in receivables turnover from 6.15 in Dec 31, 2022, to 12.97 in Mar 31, 2023, indicating a notable improvement in the efficiency of collecting receivables. However, this ratio dropped to 6.20 in Mar 31, 2022, before increasing again to 13.40 in Jun 30, 2023.

On average, the receivables turnover ratio for Haemonetics Corporation has been relatively stable over the past few quarters, with an average turnover of around 10-12 times annually. This suggests that the company has been moderately effective in managing its accounts receivable and collecting payments from customers.

It is worth noting that the receivables turnover ratio can be influenced by various factors such as industry norms, credit policies, and economic conditions. Further analysis could be conducted to understand the specific reasons behind the fluctuations in Haemonetics Corporation's receivables turnover and to assess the overall impact on the company's financial performance and liquidity position.