IDEXX Laboratories Inc (IDXX)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,660,950	3,367,320	3,215,360	2,706,660	2,406,910
Receivables	US$ in thousands	474,417	449,049	387,812	350,905	289,828
Receivables turnover		7.72	7.50	8.29	7.71	8.30

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $3,660,950K ÷ $474,417K
= 7.72

The receivables turnover of Idexx Laboratories, Inc. has shown some fluctuations over the past five years. In 2023, the receivables turnover ratio was 7.72 times, indicating that the company collected its accounts receivable approximately 7.72 times during the year. This represented a slight improvement from the previous year's turnover of 7.50 times.

Analyzing further, the receivables turnover ratio in 2023 was lower compared to 2021 (8.29 times) and 2019 (8.94 times). This suggests that the company took slightly longer to collect its receivables in 2023 than in those years. A lower receivables turnover ratio may indicate inefficiencies in collection procedures or potential issues with credit policies.

Overall, while the receivables turnover for Idexx Laboratories, Inc. has shown some variability, it is essential for the company to closely monitor and manage its accounts receivable collection processes to ensure timely collection and optimize its cash flow management.