Callaway Golf Company (MODG)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,100,200 | 3,879,900 | 3,049,960 | 1,551,060 | 1,655,710 |
| Receivables | US$ in thousands | 207,100 | 184,500 | 124,850 | 139,111 | 150,374 |
| Receivables turnover | 19.80 | 21.03 | 24.43 | 11.15 | 11.01 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $4,100,200K ÷ $207,100K
= 19.80
The receivables turnover for Topgolf Callaway Brands Corp has shown fluctuations over the past five years. The ratio was 13.55 in 2023, down from 17.79 in 2022 and 20.08 in 2021. This indicates that the company took longer to collect its accounts receivable in 2023 compared to the prior years, which may suggest a less efficient management of receivables or changes in customer payment patterns.
It is worth noting that the receivables turnover ratio was relatively low in 2020 at 11.43 and 2019 at 11.31, indicating an improvement in 2021 followed by a decline in 2022 and 2023. A higher turnover ratio generally signifies better efficiency in collecting outstanding receivables and converting them into cash.
Further investigation into the reasons behind the fluctuations in receivables turnover could provide insights into the company's credit policies, customer payment behaviors, and overall financial health.
Peer comparison
Dec 31, 2023