MarineMax Inc (HZO)
Receivables turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,394,710 | 2,308,100 | 2,063,260 | 1,509,710 | 1,237,150 |
| Receivables | US$ in thousands | 87,253 | 51,533 | 49,005 | 41,526 | 43,801 |
| Receivables turnover | 27.45 | 44.79 | 42.10 | 36.36 | 28.24 |
September 30, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $2,394,710K ÷ $87,253K
= 27.45
The trend in Marinemax, Inc.'s receivables turnover over the past five years indicates a fluctuating pattern. The receivables turnover ratio measures how efficiently the company is collecting outstanding receivables from its customers. A higher turnover ratio suggests that the company is collecting its receivables more quickly.
Marinemax's receivables turnover has varied significantly, with a noticeable decrease in 2023 to 27.92 from 45.90 in 2022. This substantial decline may indicate that the company took longer to collect its receivables in 2023. However, it is essential to consider industry norms and specific company circumstances when evaluating this ratio.
The decrease in receivables turnover could be due to various reasons, such as changes in the company's credit policies, customer payment behavior, or the overall sales volume. Further analysis and comparison with industry benchmarks would be necessary to gain a comprehensive understanding of the company's receivables management.
Overall, a declining receivables turnover should prompt management to review and potentially refine their credit and collection policies to ensure efficient cash flow management and minimize the risk of bad debts.
Peer comparison
Sep 30, 2023