Huntington Ingalls Industries Inc (HII)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,454,000 | 10,676,000 | 9,524,000 | 9,361,000 | 8,899,000 |
| Receivables | US$ in thousands | 644,000 | 806,000 | 642,000 | 568,000 | 466,000 |
| Receivables turnover | 17.79 | 13.25 | 14.83 | 16.48 | 19.10 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $11,454,000K ÷ $644,000K
= 17.79
Huntington Ingalls Industries Inc's receivables turnover has fluctuated over the past five years. The receivables turnover ratio measures the efficiency with which the company is collecting payments from its customers.
In 2023, the receivables turnover ratio was 17.79, indicating that Huntington Ingalls Industries Inc collected its accounts receivable approximately 17.79 times during the year. This suggests a significant improvement in collecting payments compared to the previous year, where the ratio was 13.25.
Although the receivables turnover ratio increased in 2023, it is still lower than the ratios seen in 2019 (19.10) and 2020 (16.48). This may indicate that the company's efficiency in collecting payments has improved from 2022 but has not yet reached the levels seen in the earlier years.
Overall, the trend in Huntington Ingalls Industries Inc's receivables turnover suggests variability in the efficiency of collecting payments from customers over the five-year period, with some fluctuations that may warrant further investigation to understand the underlying reasons driving these changes.
Peer comparison
Dec 31, 2023