LeMaitre Vascular Inc (LMAT)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	387,188	321,568	306,513	257,563	234,262
Receivables	US$ in thousands	25,064	22,040	19,631	19,552	16,572
Receivables turnover		15.45	14.59	15.61	13.17	14.14

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $387,188K ÷ $25,064K
= 15.45

Receivables turnover measures the efficiency with which Lemaitre Vascular Inc collects its accounts receivables during a given period. A higher turnover ratio indicates that the company is collecting payments from customers more rapidly.

Looking at the trend over the past five years, Lemaitre Vascular Inc's receivables turnover has shown some fluctuations. In 2023, the company's receivables turnover ratio was 7.72, which was higher compared to the previous year. This suggests that in 2023, Lemaitre Vascular Inc was able to collect its accounts receivables more efficiently than in 2022.

On a longer-term basis, the company's receivables turnover has generally been within a narrow range between 6.62 and 7.87 over the past five years, indicating relative stability in its collection practices. This consistency could imply effective credit management policies in place, allowing the company to maintain a steady pace in collecting payments from customers.

Overall, Lemaitre Vascular Inc's receivables turnover ratio reflects a consistent and efficient approach to managing its accounts receivables, which is crucial for maintaining healthy cash flows and overall financial health.