IDACORP Inc (IDA)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,557,810 | 1,482,910 | 1,303,710 | 1,209,720 | 1,212,350 |
| Receivables | US$ in thousands | 221,635 | 212,257 | 167,915 | 146,954 | 139,983 |
| Receivables turnover | 7.03 | 6.99 | 7.76 | 8.23 | 8.66 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,557,810K ÷ $221,635K
= 7.03
The receivables turnover ratio measures how efficiently a company is collecting its accounts receivable during a specific period. A higher turnover ratio indicates that the company is collecting its receivables more quickly.
In the case of Idacorp, Inc., the receivables turnover ratio has fluctuated over the past five years. In 2023, the ratio was 6.62, showing a slight increase from the previous year's ratio of 6.23. However, when compared to 2021, where the ratio was 7.95, there appears to be a declining trend over the past three years.
A high turnover ratio generally indicates that the company has effective credit policies and collection procedures in place. In Idacorp's case, the ratio has been relatively stable over the past five years, ranging from 6.23 to 8.46. This suggests that the company has been efficient in managing its accounts receivable and collecting payments from customers.
Overall, while there has been some fluctuation in the receivables turnover ratio for Idacorp, Inc., the company's ability to collect its receivables remains relatively strong, indicating effective credit and collection management practices.
Peer comparison
Dec 31, 2023