Marten Transport Ltd (MRTN)

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	1,131,455	1,185,817	1,230,727	1,274,620	1,263,878	1,208,170	1,135,002	1,037,879	973,644	934,101	898,832	878,774	874,374	864,226	863,188	862,894	843,271	830,047	814,723	799,657
Receivables	US$ in thousands	115,857	129,515	122,223	123,418	127,920	129,030	142,072	131,132	105,974	105,894	97,824	93,041	87,628	83,627	96,493	104,353	101,767	88,843	90,398	89,716
Receivables turnover		9.77	9.16	10.07	10.33	9.88	9.36	7.99	7.91	9.19	8.82	9.19	9.45	9.98	10.33	8.95	8.27	8.29	9.34	9.01	8.91

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,131,455K ÷ $115,857K
= 9.77

The receivables turnover for Marten Transport, Ltd. has shown a generally positive trend over the past eight quarters. The company's ability to convert its accounts receivable into cash has improved steadily since Q1 2022, reaching a peak in Q2 2023 at 10.07 and then slightly declining in the most recent quarter to 9.77.

A higher receivables turnover ratio indicates that the company is collecting its outstanding receivables more efficiently. This trend suggests that Marten Transport, Ltd. has been successful in managing its credit terms, collecting payments from customers promptly, or possibly adjusting its collection practices to improve cash flow.

However, it is worth noting that while the trend has been positive overall, there was a slight decline in the most recent quarter compared to the previous one. This may warrant further investigation to understand the reasons behind this decrease and to ensure that the company maintains its efficient collection practices in the future.