Middlesex Water Company (MSEX)

Receivables turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	191,877	183,372	174,987	165,353	160,542	160,340	159,166	157,131	161,158	154,740	147,137	144,256	135,282	135,917	135,959	134,658	133,956	131,761	129,520	127,795
Receivables	US$ in thousands	29,606	36,121	32,703	27,044	27,469	30,306	26,297	24,186	24,677	29,103	24,918	21,628	22,584	26,102	22,097	19,919	21,634	24,390	21,558	17,525
Receivables turnover		6.48	5.08	5.35	6.11	5.84	5.29	6.05	6.50	6.53	5.32	5.90	6.67	5.99	5.21	6.15	6.76	6.19	5.40	6.01	7.29

December 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $191,877K ÷ $29,606K
= 6.48

The receivables turnover ratio for Middlesex Water Company has fluctuated over the past few years, ranging from a low of 5.08 in September 30, 2024, to a high of 7.29 in March 31, 2020. This ratio measures how efficiently the company is able to collect on its credit sales within a given period.

A higher receivables turnover ratio indicates that the company is collecting its accounts receivables more quickly, which is generally seen as a positive sign of effective receivables management. On the other hand, a lower ratio may suggest potential issues with collecting payments from customers in a timely manner.

Overall, it appears that Middlesex Water Company has been able to maintain a relatively stable receivables turnover ratio over the analyzed period, with some fluctuations from quarter to quarter. It would be important for the company to continue monitoring this ratio to ensure efficient management of its accounts receivables.