Integer Holdings Corp (ITGR)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,533,820 | 1,330,020 | 1,187,800 | 1,040,450 | 1,207,820 |
| Receivables | US$ in thousands | 240,275 | 226,328 | 187,045 | 158,294 | 191,985 |
| Receivables turnover | 6.38 | 5.88 | 6.35 | 6.57 | 6.29 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,533,820K ÷ $240,275K
= 6.38
The receivables turnover ratio of Integer Holdings Corp has shown some fluctuation over the past five years.
For the fiscal year ending December 31, 2023, the receivables turnover ratio was 6.65, indicating that the company collected its accounts receivable approximately 6.65 times during the year. This represents an improvement from the previous year's ratio of 6.08.
In comparison to the ratios for the prior years, the receivables turnover ratio for 2023 was slightly higher than the ratios for 2021 and 2019, but slightly lower than the ratio for 2020.
Overall, the company's ability to collect its accounts receivable has been relatively consistent and efficient, with the ratio hovering around the range of 6 to 7 times over the period analyzed. A higher receivables turnover ratio generally indicates that the company is efficient in collecting payments from its customers, which is a positive indicator of its liquidity and financial management.
Peer comparison
Dec 31, 2023