Hormel Foods Corporation (HRL)

Receivables turnover

		Jan 28, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Jul 25, 2021	Apr 25, 2021	Jan 24, 2021	Oct 25, 2020	Jul 26, 2020	Apr 26, 2020	Jan 26, 2020	Oct 27, 2019	Jul 28, 2019	Apr 28, 2019
Revenue (ttm)	US$ in thousands	12,062,240	12,038,800	12,123,670	12,197,540	12,320,120	12,393,100	12,565,850	12,399,020	11,915,950	11,339,360	10,322,430	9,846,190	9,666,330	9,595,680	9,677,090	9,588,850	9,509,010	9,481,890	9,505,080	9,568,300
Receivables	US$ in thousands	751,048	824,633	793,744	769,128	794,358	874,770	810,583	—	820,405	904,012	912,416	731,448	715,651	743,868	649,563	536,351	562,670	594,320	529,250	537,740
Receivables turnover		16.06	14.60	15.27	15.86	15.51	14.17	15.50	—	14.52	12.54	11.31	13.46	13.51	12.90	14.90	17.88	16.90	15.95	17.96	17.79

January 28, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $12,062,240K ÷ $751,048K
= 16.06

The receivables turnover ratio for Hormel Foods Corp. has been relatively stable over the past eight quarters, ranging from 14.24 to 16.16. This ratio indicates how efficiently the company is able to collect payments from its customers. A higher turnover ratio suggests that the company is collecting outstanding receivables more quickly.

From the data provided, we can see that the receivables turnover ratio peaked at 16.16 in Q1 2024, which may indicate that Hormel Foods Corp. improved its efficiency in collecting payments from customers during that period. Conversely, the lowest turnover ratio of 14.24 was recorded in Q4 2022.

Overall, the consistent range of receivables turnover ratios around 15 indicates that Hormel Foods Corp. has been managing its receivables effectively and has maintained a solid level of efficiency in collecting payments from customers over the past eight quarters. Further analysis and comparison with industry benchmarks could provide additional insights into the company's receivables management performance.