IDEX Corporation (IEX)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,273,900 | 3,181,900 | 2,764,800 | 2,351,600 | 2,494,600 |
| Receivables | US$ in thousands | 427,800 | 442,800 | 356,400 | 293,100 | 298,186 |
| Receivables turnover | 7.65 | 7.19 | 7.76 | 8.02 | 8.37 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,273,900K ÷ $427,800K
= 7.65
The receivables turnover ratio for Idex Corporation has shown a fluctuating trend over the past five years. In 2023, the ratio stood at 7.65, higher than the previous year's 7.19 but lower than the ratios of 2021, 2020, and 2019, which were 7.76, 8.02, and 8.37, respectively.
A higher receivables turnover ratio generally indicates that the company is collecting its accounts receivable more efficiently. However, the slight decrease in the ratio from 2022 to 2023 might suggest a potential slowing in the collection of receivables relative to sales. It would be beneficial for Idex Corporation to further analyze the reasons behind this shift in the receivables turnover ratio to ensure that efficient cash flow management practices are in place.
Peer comparison
Dec 31, 2023