Myriad Genetics Inc (MYGN)

Receivables turnover

		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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Revenue (ttm)	US$ in thousands	817,300	794,900	766,400	745,400	731,500	696,200	691,900	675,200	820,600	831,200	839,900	846,300	666,200	590,100	564,400	586,600	627,900	750,000	801,700	822,500
Receivables	US$ in thousands	125,700	117,800	118,100	114,300	115,200	111,700	119,100	101,600	102,200	109,800	101,700	91,300	93,600	94,800	96,500	87,100	71,000	105,000	121,800	121,800
Receivables turnover		6.50	6.75	6.49	6.52	6.35	6.23	5.81	6.65	8.03	7.57	8.26	9.27	7.12	6.22	5.85	6.73	8.84	7.14	6.58	6.75

September 30, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $817,300K ÷ $125,700K
= 6.50

The receivables turnover ratio for Myriad Genetics Inc has fluctuated over the past several quarters. The ratio measures how efficiently the company is collecting on its accounts receivable. A higher ratio indicates that the company is collecting receivables more quickly.

The trend in Myriad Genetics Inc's receivables turnover ratio shows some variability, with values ranging from 5.81 to 9.27 over the past five quarters. The company generally maintained a relatively stable turnover ratio between 6.50 and 6.75 in the most recent quarters, indicating a consistent ability to convert its accounts receivable into cash.

The significant increase in receivables turnover to 9.27 in December 2021 from previous quarters may suggest a more efficient collection process during that period. However, the ratio decreased in subsequent quarters but remained above the levels observed in earlier years.

Overall, Myriad Genetics Inc's receivables turnover ratio has shown some fluctuations but generally reflects a satisfactory level of efficiency in collecting on its accounts receivable in recent quarters. Continued monitoring of this ratio will be important to assess the company's ongoing ability to manage its receivables effectively.