MYR Group Inc (MYRG)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Receivables | US$ in thousands | 541,932 | 493,704 | 398,627 | 404,869 | 402,966 |
| Receivables turnover | 6.72 | 6.09 | 6.27 | 5.55 | 5.13 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,643,180K ÷ $541,932K
= 6.72
The receivables turnover of MYR Group Inc has shown a consistent improvement over the past five years, indicating the company's ability to efficiently collect payments from its customers. The ratio has increased from 5.30 in 2019 to 6.93 in 2023, reflecting a positive trend in managing accounts receivables. This implies that MYR Group is able to convert its accounts receivables into cash nearly seven times a year in 2023, up from 5.30 times in 2019. A higher receivables turnover ratio is generally viewed favorably by investors and creditors as it signifies effective credit policies and strong collections practices by the company. Overall, the increasing trend in receivables turnover suggests that MYR Group Inc has been successful in managing its receivables efficiently over the years.
Peer comparison
Dec 31, 2023