Lindsay Corporation (LNN)
Receivables turnover
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 644,561 | 659,283 | 674,084 | 697,149 | 746,855 | 780,751 | 770,744 | 734,196 | 681,873 | 625,313 | 567,646 | 542,403 | 503,573 | 473,784 | 474,692 | 448,172 | 446,120 | 441,514 | 444,072 | 465,456 |
| Receivables | US$ in thousands | 153,624 | 143,049 | 144,774 | 154,167 | 167,007 | 157,116 | 138,200 | 155,518 | 134,694 | 111,959 | 93,609 | 107,713 | 94,211 | 74,909 | 84,604 | 84,931 | 80,468 | 79,317 | 75,551 | 94,584 |
| Receivables turnover | 4.20 | 4.61 | 4.66 | 4.52 | 4.47 | 4.97 | 5.58 | 4.72 | 5.06 | 5.59 | 6.06 | 5.04 | 5.35 | 6.32 | 5.61 | 5.28 | 5.54 | 5.57 | 5.88 | 4.92 |
February 29, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $644,561K ÷ $153,624K
= 4.20
The receivables turnover ratio for Lindsay Corporation has shown some fluctuations over the past several quarters. The ratio has ranged from a low of 4.20 to a high of 6.32. Overall, the trend indicates that the company is able to effectively collect its accounts receivable within a reasonable timeframe.
In analyzing the data, it appears there was a significant peak in the receivables turnover ratio in the quarter ending August 31, 2022, at 5.58, which then decreased in subsequent quarters before reaching its lowest point at 4.20 in the most recent quarter ending February 29, 2024. This decline may warrant further investigation into potential factors contributing to slower receivables turnover.
Despite fluctuations, the general trend of the receivables turnover ratio has remained relatively stable, indicating that Lindsay Corporation has been efficient in collecting payments from customers over the analyzed period. It is important for the company to continue monitoring this ratio to ensure timely collection of accounts receivable, which is crucial for maintaining healthy cash flow and overall financial health.
Peer comparison
Feb 29, 2024