Myers Industries Inc (MYE)

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	813,105	834,363	864,613	889,454	899,773	887,215	859,353	814,341	762,817	700,469	632,519	562,548	510,376	489,727	482,938	498,884	515,785	537,355	546,887	553,041
Receivables	US$ in thousands	113,907	117,362	116,771	130,616	133,716	128,839	132,002	132,689	100,691	116,150	98,610	94,619	83,701	75,539	71,270	65,255	62,279	65,129	73,120	71,914
Receivables turnover		7.14	7.11	7.40	6.81	6.73	6.89	6.51	6.14	7.58	6.03	6.41	5.95	6.10	6.48	6.78	7.65	8.28	8.25	7.48	7.69

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $813,105K ÷ $113,907K
= 7.14

The receivables turnover for Myers Industries Inc. has shown variability over the past eight quarters. The ratio ranged from a low of 6.12 in Q1 2022 to a high of 7.41 in Q2 2023. Overall, the company's ability to convert its accounts receivable into cash improved in the short term from Q4 2022 to Q3 2023, as the turnover increased from 6.73 to 7.11. However, this metric fluctuated in the subsequent quarters. The higher the receivables turnover, the better the company is managing its credit sales and collecting payments from its customers. Further analysis is needed to determine the effectiveness of the company's credit policies and collection procedures.