Grand Canyon Education Inc (LOPE)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	960,866	911,304	897,963	839,694	767,332
Receivables	US$ in thousands	80,315	85,761	75,179	63,777	51,243
Receivables turnover		11.96	10.63	11.94	13.17	14.97

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $960,866K ÷ $80,315K
= 11.96

The receivables turnover ratio for Grand Canyon Education Inc has been relatively stable over the past five years, ranging between 11.36 and 13.87. This ratio indicates how efficiently the company is able to collect outstanding receivables from its customers within a given period.

A higher receivables turnover ratio typically suggests that the company is effectively managing its accounts receivable and collecting payments in a timely manner. Conversely, a lower ratio may indicate potential issues such as extended credit terms or difficulties in collecting payments.

Overall, Grand Canyon Education Inc's receivables turnover ratios reflect a consistent and healthy trend, showing the company's ability to efficiently convert its accounts receivable into cash over the years. However, it is essential to further analyze the underlying reasons for any fluctuations in this ratio to fully understand the company's financial performance and operational effectiveness.