John Bean Technologies Corporation (JBT)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,704,500 | 2,166,000 | 1,868,300 | 1,727,800 | 1,945,700 |
| Receivables | US$ in thousands | 214,400 | 299,000 | 239,100 | 236,100 | 288,900 |
| Receivables turnover | 7.95 | 7.24 | 7.81 | 7.32 | 6.73 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,704,500K ÷ $214,400K
= 7.95
The receivables turnover ratio for John Bean Technologies Corp has shown a consistent trend of improvement over the past five years. The ratio has increased from 6.73 in 2019 to 7.76 in 2023, indicating that the company is collecting its outstanding accounts receivable more efficiently.
A higher receivables turnover ratio signifies that the company is collecting payments from its customers more frequently within a given period, which is a positive indication of effective credit management and liquidity. This improvement suggests that the company has been able to convert its accounts receivable into cash at a faster rate, potentially reducing the risk of bad debts and improving overall cash flow.
Overall, the increasing trend in the receivables turnover ratio for John Bean Technologies Corp reflects positively on the company's efficiency in managing its accounts receivable and liquidity position.
Peer comparison
Dec 31, 2023