Myriad Genetics Inc (MYGN)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Jun 30, 2020	Jun 30, 2019
Revenue	US$ in thousands	745,400	675,200	846,000	627,800	840,000
Receivables	US$ in thousands	114,300	101,600	91,300	71,000	138,600
Receivables turnover		6.52	6.65	9.27	8.84	6.06

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $745,400K ÷ $114,300K
= 6.52

The receivables turnover ratio measures how efficiently a company collects payments from its customers.

For Myriad Genetics, Inc., the trend in the receivables turnover ratio over the past five periods shows a decline from 8.99 in June 30, 2020, to 6.59 in December 31, 2023. This indicates that the company took longer to collect payments from its customers in the most recent period compared to previous periods.

A decreasing receivables turnover ratio could imply that Myriad Genetics, Inc. is facing challenges in managing its accounts receivable efficiently. It may indicate potential issues with credit policies, collection efforts, or the quality of customers it sells to.

Further analysis would be required to understand the specific reasons behind the decrease in the receivables turnover ratio and to assess whether it is a temporary issue or a concerning trend that could impact the company's financial performance.