Callaway Golf Company (MODG)
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 | 4,100,200 | 4,077,300 | 4,031,900 | 3,983,500 | 3,879,900 | 3,753,324 | 3,642,683 | 3,454,542 | 3,079,082 | 2,741,987 | 2,377,880 | 1,771,541 | 1,562,865 | 1,500,177 | 1,433,952 | 1,585,033 | 1,658,125 | 1,526,862 | 1,381,303 | 1,335,016 |
| Receivables | US$ in thousands | 207,100 | 309,900 | 404,100 | 465,800 | 184,500 | 279,700 | 385,100 | 427,500 | 124,850 | 255,223 | 325,275 | 328,841 | 139,111 | 246,971 | 230,628 | 280,578 | 150,374 | 239,381 | 279,069 | 294,690 |
| Receivables turnover | 19.80 | 13.16 | 9.98 | 8.55 | 21.03 | 13.42 | 9.46 | 8.08 | 24.66 | 10.74 | 7.31 | 5.39 | 11.23 | 6.07 | 6.22 | 5.65 | 11.03 | 6.38 | 4.95 | 4.53 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $4,100,200K ÷ $207,100K
= 19.80
The receivables turnover ratio for Topgolf Callaway Brands Corp has fluctuated over the past eight quarters. It measures how efficiently the company is collecting its accounts receivable during each period.
In Q4 2023, the receivables turnover ratio was 13.55, indicating that the company converted its accounts receivable into cash approximately 13.55 times during that quarter. This was a significant improvement from the previous quarter's ratio of 11.00.
Looking further back, the ratios have shown a varied performance. In Q3 2022, the ratio was at its lowest at 9.20, reflecting a slower collection of receivables. However, it rebounded in Q4 2022 to a higher level of 17.79, suggesting a more efficient collection process during that period.
Overall, the trend indicates some volatility in the efficiency of accounts receivable collections for Topgolf Callaway Brands Corp, with some quarters performing better than others. It is important for the company to continue monitoring and improving this ratio to ensure timely collection of outstanding receivables and maintain healthy cash flow.
Peer comparison
Dec 31, 2023