Landstar System Inc (LSTR)

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	5,303,320	5,773,650	6,300,440	6,901,640	7,436,560	7,706,810	7,624,980	7,220,640	6,537,570	5,888,910	5,240,160	4,492,954	4,132,990	3,831,509	3,757,619	3,979,145	4,084,579	4,272,050	4,462,470	4,600,220
Receivables	US$ in thousands	743,762	810,801	848,839	899,811	967,793	1,133,680	1,216,520	1,223,120	1,154,310	1,010,540	902,950	824,872	764,169	637,908	489,182	562,528	588,549	598,415	594,122	601,128
Receivables turnover		7.13	7.12	7.42	7.67	7.68	6.80	6.27	5.90	5.66	5.83	5.80	5.45	5.41	6.01	7.68	7.07	6.94	7.14	7.51	7.65

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,303,320K ÷ $743,762K
= 7.13

The receivables turnover of Landstar System Inc has shown some fluctuation over the past few quarters. Generally, the company has been able to efficiently collect its accounts receivable, as indicated by the consistently high turnover ratios.

The receivables turnover ratio increased from 5.41 in March 2021 to a peak of 7.68 in March 2022, indicating that the company improved its collection efficiency during this period. However, there was a slight dip to 5.90 in March 2022 before rising again to 7.68 in March 2023.

Overall, Landstar System Inc's receivables turnover has been relatively stable at a healthy level, which suggests that the company has been effectively managing its credit sales and collecting payments from customers in a timely manner. A high receivables turnover ratio is generally a positive sign, as it indicates that the company is efficiently converting its accounts receivable into cash.