Myriad Genetics Inc (MYGN)

Receivables turnover

		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	Jun 30, 2019
Revenue (ttm)	US$ in thousands	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	840,100
Receivables	US$ in thousands	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	138,600
Receivables turnover		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	6.06

June 30, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $794,900K ÷ $117,800K
= 6.75

The receivables turnover ratio for Myriad Genetics Inc has varied over the past few quarters, ranging from a low of 5.81 to a high of 9.27. Overall, the trend seems to be relatively stable, with fluctuations but no significant long-term upward or downward movement. The average receivables turnover ratio over this period appears to be around 6.8, indicating that, on average, the company collects its accounts receivable approximately 6.8 times per year.

A higher receivables turnover ratio is generally seen as positive, as it indicates that the company is efficient in collecting its outstanding receivables. Conversely, a lower ratio may suggest that the company is facing challenges in collecting payments from its customers.

It is important for investors and analysts to monitor the trend in the receivables turnover ratio over time to assess the effectiveness of Myriad Genetics Inc's credit and collection policies, as well as its overall liquidity and financial health.