Hormel Foods Corporation (HRL)
Receivables turnover
| Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 11,880,780 | 11,922,100 | 11,968,590 | 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 |
| Receivables | US$ in thousands | 868,288 | 727,054 | 731,984 | 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 |
| Receivables turnover | 13.68 | 16.40 | 16.35 | 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 |
October 27, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $11,880,780K ÷ $868,288K
= 13.68
The receivables turnover ratio of Hormel Foods Corporation has shown fluctuations over the past years, with values ranging from 11.31 to 17.88. This ratio indicates the efficiency of the company in collecting its accounts receivable during a specific period.
A higher receivables turnover ratio suggests that the company is more efficient in collecting payments from its customers, while a lower ratio may indicate potential issues with collecting receivables promptly.
Overall, Hormel Foods Corporation has maintained relatively consistent receivables turnover ratios in recent years, with values mostly hovering around the mid-teens. This indicates a reasonably efficient accounts receivable management process, with the company collecting payments from customers in a timely manner. However, further analysis and comparison with industry benchmarks could provide deeper insights into the effectiveness of Hormel Foods Corporation's credit and collection policies.