Dorian LPG Ltd (LPG)
Receivables turnover
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 560,718 | 552,961 | 493,218 | 424,488 | 389,749 | 335,738 | 300,976 | 288,095 | 274,222 | 294,182 | 314,101 | 305,724 | 315,938 | 311,556 | 308,515 | 345,430 | 333,431 | 272,696 | 242,371 | 191,554 |
| Receivables | US$ in thousands | 53,013 | 113,341 | 66,996 | 72,111 | 76,352 | 86,212 | 55,474 | 62,453 | 58,636 | 47,488 | 30,153 | 43,880 | 56,394 | 76,000 | 55,378 | 48,414 | 67,669 | 69,978 | 69,231 | 65,561 |
| Receivables turnover | 10.58 | 4.88 | 7.36 | 5.89 | 5.10 | 3.89 | 5.43 | 4.61 | 4.68 | 6.19 | 10.42 | 6.97 | 5.60 | 4.10 | 5.57 | 7.13 | 4.93 | 3.90 | 3.50 | 2.92 |
March 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $560,718K ÷ $53,013K
= 10.58
The receivables turnover ratio for Dorian LPG Ltd has shown fluctuations over the past few quarters. In the most recent quarter, the receivables turnover ratio was 10.58, indicating that the company collected its accounts receivable approximately 10.58 times during the period. This represents a significant improvement from the previous quarter when the ratio was 4.88.
The trend in the receivables turnover ratio has been somewhat volatile, with periods of improvement followed by periods of decline. For example, the ratio increased steadily from 2.92 in June 2019 to a peak of 10.58 in March 2024, with some fluctuations along the way.
Overall, a higher receivables turnover ratio is generally preferred as it signifies that the company is collecting its outstanding receivables more efficiently. However, it is essential to consider the nature of the company's operations and industry standards when evaluating the significance of the ratio. Further analysis of the company's accounts receivable management practices and collection policies may provide additional insights into its financial performance and efficiency in managing its receivables.