HNI Corp (HNI)

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	2,434,000	2,323,100	2,210,300	2,268,500	2,361,700	2,395,700	2,383,600	2,272,400	2,184,393	2,136,642	2,057,005	1,963,961	1,948,372	2,000,722	2,119,093	2,225,230	2,233,871	2,221,927	2,205,091	2,222,483
Receivables	US$ in thousands	247,100	—	—	—	218,400	—	—	—	240,000	—	—	—	207,971	—	—	—	274,565	271,960	245,331	224,650
Receivables turnover		9.85	—	—	—	10.81	—	—	—	9.10	—	—	—	9.37	—	—	—	8.14	8.17	8.99	9.89

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,434,000K ÷ $247,100K
= 9.85

The receivables turnover ratio for HNI Corp has shown some variability over the periods presented. The ratio indicates how efficiently the company is able to collect its accounts receivable during a given period.

The receivables turnover ratio for HNI Corp ranged from 8.14 to 10.81 over the various quarters. A higher ratio suggests that the company is collecting its accounts receivable more effectively.

In interpreting these ratios, it is important to consider the industry average and trends over time within the company. Comparing the ratios to industry benchmarks can provide insight into how well HNI Corp is managing its receivables compared to its peers.

Overall, the analysis of HNI Corp's receivables turnover indicates fluctuations in the efficiency of its accounts receivable collection process. Further investigation and comparison to industry standards would provide a more comprehensive understanding of the company's performance in this area.