Innovex International, Inc (INVX)

Receivables turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	867,153	763,261	633,143	508,800	474,227	443,492	424,060	394,530	365,427	369,798	362,070	343,168	338,024	324,843	322,945	332,267	340,565	350,214	364,973	386,192
Receivables	US$ in thousands	220,966	269,094	266,343	250,590	287,162	276,745	283,998	131,734	274,624	282,496	235,932	220,199	216,324	195,923	203,584	217,072	235,817	243,319	256,520	238,851
Receivables turnover		3.92	2.84	2.38	2.03	1.65	1.60	1.49	2.99	1.33	1.31	1.53	1.56	1.56	1.66	1.59	1.53	1.44	1.44	1.42	1.62

June 30, 2025 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $867,153K ÷ $220,966K
= 3.92

The receivables turnover ratio of Innovex International, Inc. exhibits notable fluctuations over the period analyzed. Starting at 1.62 as of September 30, 2020, the ratio shows a slight decline through the following quarters, reaching a low of approximately 1.31 by March 31, 2023. This period of decline suggests a potential extension in the collection period or challenges in receivables management.

However, a significant upward trend is observed commencing from March 31, 2023, with the ratio increasing sharply to 2.99 by September 30, 2023. This marked improvement indicates a more efficient collection process or an enhancement in credit policies. The upward trajectory continues into 2024, with ratios reaching as high as 3.92 by June 30, 2025, implying an even swifter turnover of receivables.

Overall, the pattern reflects periods of relative inefficiency in receivables collection, followed by substantial improvements in recent periods. The recent higher ratios suggest a strategic or operational shift toward more effective receivables recovery practices, contributing to a shorter average collection period and potentially better cash flow management.