Mednax Inc (MD)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,952,560 | 1,875,310 | 1,820,660 | 1,623,470 | 3,394,160 |
| Receivables | US$ in thousands | 272,313 | 296,787 | 316,024 | 241,931 | 498,869 |
| Receivables turnover | 7.17 | 6.32 | 5.76 | 6.71 | 6.80 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,952,560K ÷ $272,313K
= 7.17
The receivables turnover ratio for Pediatrix Medical Group Inc has shown fluctuations over the past five years. In 2023, the ratio improved to 7.13 times, indicating that the company collected its accounts receivable approximately 7.13 times during the year. This is an increase from the previous year, where the ratio was 6.64 times.
The trend in the receivables turnover ratio from 2020 to 2023 shows some variability, with the ratio peaking in 2020 at 7.17 times, then decreasing in 2021 to 6.05 times, before showing an uptick again in 2022 and 2023. These fluctuations may suggest changes in the company's collection efficiency and its ability to manage its accounts receivable effectively.
Overall, a higher receivables turnover ratio indicates that the company is collecting its accounts receivable more quickly, which can be a positive sign of efficient credit and collection policies. However, it is important to assess this ratio in conjunction with other financial ratios and metrics to gain a comprehensive understanding of the company's financial performance and liquidity.
Peer comparison
Dec 31, 2023