Heartland Express Inc (HTLD)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,207,460	967,996	607,284	645,262	596,815
Receivables	US$ in thousands	112,897	142,958	56,907	55,577	57,076
Receivables turnover		10.70	6.77	10.67	11.61	10.46

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $1,207,460K ÷ $112,897K
= 10.70

The receivables turnover ratio measures how efficiently a company is able to collect payment from its customers. A higher turnover ratio indicates that the company is able to collect its accounts receivable more quickly.

In the case of Heartland Express, Inc., the receivables turnover ratio has fluctuated over the past five years. In 2023, the company's receivables turnover ratio was 10.70, which represents an improvement compared to the previous year where it was 6.77. This indicates that the company was able to collect its accounts receivable at a faster pace in 2023.

Looking at the trend over the past five years, Heartland Express, Inc. generally has a healthy receivables turnover ratio, ranging from 6.77 to 11.61. This suggests that the company has been effective in managing its accounts receivable and converting them into cash efficiently.

Overall, the improvement in the receivables turnover ratio in 2023 compared to the previous year indicates that Heartland Express, Inc. is becoming more efficient in collecting payments from its customers. This could be a positive sign of effective accounts receivable management within the company.