LCI Industries (LCII)

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	3,784,809	3,841,611	4,014,376	4,535,886	5,207,146	5,526,210	5,559,440	5,117,010	4,472,700	4,042,292	3,704,711	3,136,756	2,796,166	2,577,185	2,335,677	2,438,980	2,371,482	2,344,077	2,362,100	2,417,487
Receivables	US$ in thousands	214,707	338,847	299,469	340,305	214,262	335,945	417,033	564,672	319,782	394,766	418,014	405,395	268,625	313,264	269,562	280,952	199,976	185,821	143,111	179,417
Receivables turnover		17.63	11.34	13.40	13.33	24.30	16.45	13.33	9.06	13.99	10.24	8.86	7.74	10.41	8.23	8.66	8.68	11.86	12.61	16.51	13.47

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,784,809K ÷ $214,707K
= 17.63

The receivables turnover of LCI Industries has shown fluctuations over the past eight quarters. The Q4 2023 receivables turnover of 17.63 indicates that the company collects its accounts receivable approximately 17.63 times during the year, suggesting strong efficiency in collecting outstanding payments from customers. This is an improvement compared to the previous quarter's turnover of 11.34.

Despite the recent increase, the Q4 2023 turnover is lower than that of Q4 2022, which was 24.30. This suggests a decline in the speed at which receivables are collected compared to the same period a year ago.

Overall, while the Q4 2023 receivables turnover indicates a satisfactory efficiency in collecting receivables, it is important for the company to monitor and manage this ratio to ensure timely collection of outstanding payments from customers and optimize cash flow.