Knight Transportation Inc (KNX)

Receivables turnover

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	7,141,770	6,953,470	6,830,370	7,238,520	7,428,580	7,501,820	7,247,420	6,601,990	5,998,010	5,459,110	5,027,080	4,772,080	4,673,870	4,592,720	4,582,830	4,764,210	4,843,950	5,041,780	5,187,870	5,277,470
Receivables	US$ in thousands	954,418	1,031,390	729,500	830,636	909,414	959,160	1,017,650	939,923	914,107	877,307	679,596	584,049	584,363	568,251	531,303	540,325	539,736	561,443	588,088	559,208
Receivables turnover		7.48	6.74	9.36	8.71	8.17	7.82	7.12	7.02	6.56	6.22	7.40	8.17	8.00	8.08	8.63	8.82	8.97	8.98	8.82	9.44

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $7,141,770K ÷ $954,418K
= 7.48

The receivables turnover for Knight-Swift Transportation Holdings Inc has shown variability over the past eight quarters. The company's ability to convert its accounts receivable into cash within a given period has ranged from a low of 6.74 in Q3 2023 to a high of 9.36 in Q2 2023. The average receivables turnover for the period was approximately 7.80.

A higher receivables turnover ratio indicates that the company is more efficient in collecting payments from its customers, which is a positive indicator of liquidity. In contrast, a lower turnover ratio may suggest potential issues with collecting receivables in a timely manner.

Overall, Knight-Swift Transportation Holdings Inc should continue monitoring its receivables turnover to ensure efficient management of its accounts receivable and maintain healthy liquidity levels.