LeMaitre Vascular Inc (LMAT)

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	289,940	282,011	312,579	295,977	281,639	280,188	278,441	275,316	267,547	265,592	262,196	231,031	220,642	213,264	198,609	208,001	203,956	202,175	168,273	142,095
Receivables	US$ in thousands	25,064	23,882	26,406	25,365	22,040	20,094	21,542	21,386	19,631	19,501	20,741	20,126	19,552	19,625	17,696	16,630	16,572	14,878	15,548	15,460
Receivables turnover		11.57	11.81	11.84	11.67	12.78	13.94	12.93	12.87	13.63	13.62	12.64	11.48	11.28	10.87	11.22	12.51	12.31	13.59	10.82	9.19

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $289,940K ÷ $25,064K
= 11.57

The receivables turnover ratio for Lemaitre Vascular Inc has shown some fluctuations over the past eight quarters. The ratio measures how efficiently the company is collecting cash from its credit sales.

In Q4 2023, the receivables turnover was 7.72, slightly lower than the previous quarter but still relatively high. This suggests that the company is managing its accounts receivable effectively, as it takes approximately 7.72 times to collect outstanding receivables on an annual basis.

Looking back over the past year, there have been fluctuations in the receivables turnover ratio, with some quarters showing higher ratios (e.g., Q3 2022 at 7.97) and others showing lower ratios (e.g., Q2 2023 at 6.71). Despite these fluctuations, the company generally maintains a moderate to high level of efficiency in collecting its accounts receivable.

Overall, Lemaitre Vascular Inc's receivables turnover ratios indicate that the company is effectively managing its credit sales and converting them into cash in a timely manner. Further analysis and comparison with industry benchmarks could provide additional insights into the company's financial health and operational efficiency.