Ichor Holdings Ltd (ICHR)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 791,741 | 1,269,010 | 1,089,730 | 905,509 | 610,190 |
| Receivables | US$ in thousands | 66,721 | 136,321 | 142,990 | 100,977 | 84,849 |
| Receivables turnover | 11.87 | 9.31 | 7.62 | 8.97 | 7.19 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $791,741K ÷ $66,721K
= 11.87
The receivables turnover of Ichor Holdings Ltd has shown a generally increasing trend over the past five years. In 2019, the receivables turnover stood at 7.19, indicating that the company collected its accounts receivable approximately 7.19 times during that year.
Subsequently, there was a significant improvement in 2020 when the receivables turnover increased to 8.97, suggesting that the company became more efficient in collecting its receivables. This trend continued in 2021 with a further increase in the receivables turnover to 7.62.
The most notable improvement was seen in 2022 where the receivables turnover increased to 9.31, indicating that the company was able to collect its accounts receivable at a faster rate compared to the previous year.
In the latest period of 2023, the receivables turnover reached 11.87, which indicates that the company collected its accounts receivable approximately 11.87 times during the year. This represents a significant improvement over the previous periods and reflects the company's effective management of its accounts receivable.
Overall, the increasing trend in receivables turnover over the years suggests that Ichor Holdings Ltd has been successful in improving its efficiency in collecting its accounts receivable, which is a positive indicator of its overall financial health and operational effectiveness.
Peer comparison
Dec 31, 2023