Knight Transportation Inc (KNX)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,141,770 | 7,428,580 | 5,998,020 | 4,673,860 | 4,843,950 |
| Receivables | US$ in thousands | 954,418 | 909,414 | 914,107 | 584,363 | 539,736 |
| Receivables turnover | 7.48 | 8.17 | 6.56 | 8.00 | 8.97 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,141,770K ÷ $954,418K
= 7.48
The receivables turnover ratio for Knight-Swift Transportation Holdings Inc has been fluctuating over the past five years. The ratio indicates how efficiently the company is able to collect cash from its customers within a given period.
In 2023, the receivables turnover ratio was 7.48, which implies that the company collected its outstanding receivables approximately 7.48 times during the year. This was a decrease from the previous year's ratio of 8.24. A decreasing trend in receivables turnover could suggest a potential issue with collecting receivables efficiently.
Comparing the 2023 ratio to 2021 and 2020, we see improvements in efficiency, as the ratios were 6.58 and 8.04, respectively. However, it is worth noting that the receivables turnover ratio was higher in 2019 at 9.04, indicating that the company was collecting receivables more frequently in that year.
Overall, the trend in the receivables turnover ratio for Knight-Swift Transportation Holdings Inc shows some variability, with fluctuations in efficiency in collecting receivables over the past five years. Further analysis would be needed to understand the underlying reasons for these fluctuations and assess the impact on the company's cash flow and overall financial health.
Peer comparison
Dec 31, 2023