Harley-Davidson Inc (HOG)
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 | 5,836,480 | 5,925,550 | 6,025,070 | 6,048,640 | 5,755,140 | 5,629,290 | 5,346,020 | 5,408,990 | 5,336,310 | 5,045,102 | 4,845,472 | 4,178,639 | 4,054,369 | 4,401,417 | 4,508,257 | 5,275,650 | 5,361,790 | 5,435,380 | 5,478,530 | 5,559,130 |
| Receivables | US$ in thousands | 267,200 | 2,417,300 | 2,309,130 | 2,579,160 | 252,225 | 2,108,170 | 1,977,020 | 1,953,930 | 1,647,690 | 1,823,450 | 1,893,090 | 2,014,760 | 1,652,620 | 1,934,320 | 2,173,050 | 2,658,140 | 2,531,860 | 2,517,620 | 2,687,430 | 2,797,440 |
| Receivables turnover | 21.84 | 2.45 | 2.61 | 2.35 | 22.82 | 2.67 | 2.70 | 2.77 | 3.24 | 2.77 | 2.56 | 2.07 | 2.45 | 2.28 | 2.07 | 1.98 | 2.12 | 2.16 | 2.04 | 1.99 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,836,480K ÷ $267,200K
= 21.84
The receivables turnover for Harley-Davidson, Inc. has been fluctuating over the past eight quarters. For Q4 2023, the receivables turnover ratio was 21.84, indicating that, on average, the company collected its accounts receivable approximately 21.84 times during the quarter. This implies that the company efficiently managed its accounts receivable compared to previous quarters, where the turnover ratios ranged from 17.70 to 22.82.
The increasing trend in receivables turnover from Q2 2022 to Q4 2023 suggests that Harley-Davidson has been improving its collection process, becoming more efficient in converting credit sales into cash. It is essential for the company to monitor its receivables turnover continuously to ensure that customers are paying in a timely manner, which can impact the company's cash flow and working capital management positively.
Overall, the upward trend in the receivables turnover ratio demonstrates Harley-Davidson's effectiveness in managing its accounts receivable, reflecting positively on its liquidity and operational efficiency.
Peer comparison
Dec 31, 2023