Insteel Industries Inc (IIIN)
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 | 600,711 | 649,214 | 702,408 | 763,864 | 817,999 | 826,223 | 790,215 | 723,780 | 649,569 | 590,694 | 556,516 | 517,734 | 493,592 | 471,587 | 446,089 | 450,346 | 447,416 | 454,662 | 464,253 | 464,751 |
| Receivables | US$ in thousands | 46,102 | 63,424 | 66,363 | — | 68,789 | 81,646 | — | — | — | 67,917 | — | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 13.03 | 10.24 | 10.58 | — | 11.89 | 10.12 | — | — | — | 8.70 | — | — | — | — | — | — | — | — | — | — |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $600,711K ÷ $46,102K
= 13.03
The receivables turnover ratio for Insteel Industries Inc has shown fluctuations over the past few quarters. The ratio stood at 13.03 as of Dec 31, 2023, indicating that the company collected its accounts receivables approximately 13 times during the year, which suggests efficient management of accounts receivables. The decrease in the ratio to 10.24 as of Sep 30, 2023, and then to 10.58 as of Jun 30, 2023, may indicate a longer collection period for accounts receivables compared to the previous quarter.
However, it is important to note that there is missing data for the receivables turnover ratio in some quarters, including Mar 31, 2023, and various quarters in 2022 and previous years. This lack of data makes it challenging to assess the trend of accounts receivables turnover over a more extended period.
Overall, further analysis is needed to understand the reasons behind the fluctuations in the receivables turnover ratio and whether any underlying issues need to be addressed to optimize the management of accounts receivables effectively.
Peer comparison
Dec 31, 2023