Hormel Foods Corporation (HRL)

The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. In the case of Hormel Foods Corporation, the receivables turnover ratio was not available for October 31, 2022 and October 31, 2023. However, for October 29, 2023, the receivables turnover ratio was 14.60, indicating that, on average, the company collected payments from its customers approximately 14.60 times during that period. For the most recent data point on October 27, 2024, the receivables turnover ratio stood at 13.73, reflecting a slight decrease in the efficiency of collecting payments compared to the previous period. It is essential for Hormel Foods Corporation to monitor this ratio over time to ensure that receivables are being collected promptly, as a declining ratio could signify potential issues with customer creditworthiness or collection processes.