Intuit Inc (INTU)
Receivables turnover
| Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 16,285,000 | 14,368,000 | 12,726,000 | 9,633,000 | 7,679,000 |
| Receivables | US$ in thousands | 535,000 | 434,000 | 1,048,000 | 653,000 | 201,000 |
| Receivables turnover | 30.44 | 33.11 | 12.14 | 14.75 | 38.20 |
July 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $16,285,000K ÷ $535,000K
= 30.44
The receivables turnover ratio for Intuit Inc has fluctuated over the past five years. In July 2020, the ratio was 38.20, indicating that the company collected its accounts receivable balance approximately 38 times during the year. This high ratio suggests efficient management of accounts receivable.
In the subsequent years, the receivables turnover ratio decreased significantly, reaching a low of 12.14 in July 2022. This decline may indicate slower collections or changes in the company's credit policies. However, there was a notable improvement in July 2023 with a ratio of 33.11, suggesting a more efficient collection process.
In the most recent period, July 2024, the receivables turnover ratio stands at 30.44, reflecting a relatively stable performance in collecting accounts receivable compared to the previous year.
Overall, while there have been fluctuations in Intuit Inc's receivables turnover ratio over the years, the company has generally demonstrated effective management of its accounts receivable by swiftly converting them into cash, albeit with some fluctuations in efficiency from year to year.
Peer comparison
Jul 31, 2024