Kelly Services A Inc (KELYA)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,834,000	4,948,800	4,905,600	4,506,800	5,355,600
Receivables	US$ in thousands	1,160,600	1,491,600	1,423,200	1,265,200	1,282,200
Receivables turnover		4.17	3.32	3.45	3.56	4.18

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $4,834,000K ÷ $1,160,600K
= 4.17

The receivables turnover ratio for Kelly Services, Inc. has fluctuated over the past five years. In 2023, the company achieved a receivables turnover ratio of 4.17, representing an improvement compared to the previous year. This indicates that the company collected its accounts receivable approximately 4.17 times during the year.

In comparison, in 2022 and 2021, the receivables turnover ratios were 3.45 and 3.57, respectively, showing a relatively consistent turnover performance during those years. Notably, in 2020, there was a significant decrease in the receivables turnover ratio to 3.33, which was notably lower compared to the surrounding years.

Overall, Kelly Services, Inc. has shown varying levels of efficiency in collecting its accounts receivable in recent years, with improvements observed in 2023 compared to the preceding year. It is essential for the company to continue monitoring and managing its receivables turnover effectively to ensure timely collection and maintain healthy cash flow.