IDEXX Laboratories Inc (IDXX)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	3,660,953	3,587,920	3,514,054	3,430,970	3,367,324	3,339,846	3,308,606	3,274,202	3,215,360	3,135,208	3,046,576	2,858,026	2,706,655	2,591,163	2,474,677	2,457,188	2,406,908	2,350,848	2,290,993	2,251,642
Receivables	US$ in thousands	474,417	470,911	482,163	473,217	449,049	410,642	432,752	423,986	387,812	393,583	399,691	396,500	350,905	361,644	336,089	315,133	289,828	288,854	286,154	281,159
Receivables turnover		7.72	7.62	7.29	7.25	7.50	8.13	7.65	7.72	8.29	7.97	7.62	7.21	7.71	7.16	7.36	7.80	8.30	8.14	8.01	8.01

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,660,953K ÷ $474,417K
= 7.72

Idexx Laboratories, Inc.'s receivables turnover ratio for the last eight quarters has ranged from 7.25 to 8.13. A high receivables turnover ratio indicates that the company is efficiently collecting payments from its customers.

The average receivables turnover ratio for Idexx Laboratories, Inc. over these eight quarters is approximately 7.63. This suggests that, on average, the company collects its accounts receivable approximately 7.63 times a year.

A consistent and relatively high receivables turnover ratio is a positive sign as it indicates that the company is effectively managing its accounts receivable and converting them into cash quickly. However, it is important to consider industry benchmarks and trends in comparison to competitors to gain a more comprehensive understanding of Idexx Laboratories, Inc.'s receivables management efficiency.