Heritage Financial Corporation (HFWA)
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 | 240,902 | 261,588 | 267,624 | 267,038 | 259,556 | 252,619 | 247,108 | 263,310 | 271,408 | 274,840 | 266,804 | 220,033 | 202,681 | 192,376 | 195,892 | 222,867 | 229,009 | 231,013 | 230,880 | 223,672 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $240,902K ÷ $—K
= —
The receivables turnover of Heritage Financial Corp. has been relatively stable over the past eight quarters, ranging from a low of 13.67 in Q3 2022 to a high of 16.59 in Q1 2022. The company's ability to convert its accounts receivable into cash has shown a positive trend, with an overall increase in turnover ratios from 13.86 in Q4 2022 to 15.53 in Q4 2023. This suggests that the company is effectively managing its credit policies and collection practices.
A higher receivables turnover ratio indicates that the company is collecting its outstanding receivables more efficiently. It implies that customers are paying their bills promptly, which can improve the company's cash flow and working capital management. The consistent performance of Heritage Financial Corp. in maintaining a receivables turnover ratio above 13.5 indicates a healthy level of efficiency in managing its accounts receivable.
Overall, Heritage Financial Corp.'s receivables turnover analysis reflects a positive trend in its ability to collect cash from its credit sales, indicating effective credit and collection management practices.