Harmony Biosciences Holdings (HRMY)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Revenue | US$ in thousands | 548,499 | 419,060 | 255,101 | 134,691 |
| Receivables | US$ in thousands | 74,140 | 54,740 | 34,843 | 22,176 |
| Receivables turnover | 7.40 | 7.66 | 7.32 | 6.07 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $548,499K ÷ $74,140K
= 7.40
The receivables turnover for Harmony Biosciences Holdings Inc has fluctuated over the past four years, ranging from 7.20 to 8.77. In 2021, the company achieved the highest receivables turnover of 8.77, indicating that it collected its accounts receivables nearly 9 times during the year. However, this ratio slightly decreased to 8.00 in 2022 and further to 7.85 in 2023.
A high receivables turnover ratio generally indicates that a company is efficient in collecting outstanding payments from its customers. Despite the slight decrease in 2023, Harmony Biosciences Holdings Inc's receivables turnover ratio remains relatively strong, suggesting that the company effectively manages its accounts receivable balance and collects payments in a timely manner.
Peer comparison
Dec 31, 2023