MYR Group Inc (MYRG)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Receivables turnover | 6.72 | 6.09 | 6.27 | 5.55 | 5.13 | |
| DSO | days | 54.29 | 59.92 | 58.21 | 65.81 | 71.10 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 6.72
= 54.29
The days of sales outstanding (DSO) for MYR Group Inc have exhibited a decreasing trend over the last five years. The DSO decreased from 68.81 days in 2019 to 52.68 days in 2023. This indicates that the company is becoming more efficient in collecting its accounts receivable, as it takes fewer days to convert sales into cash. A lower DSO signifies that the company is managing its working capital more effectively and potentially has better control over credit terms and collection processes. This can positively impact the company's liquidity and cash flow position. Overall, the decreasing trend in DSO for MYR Group Inc is a favorable indicator of its financial health and operational efficiency in managing its receivables.
Peer comparison
Dec 31, 2023