MYR Group Inc (MYRG)
Receivables turnover
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,643,182 | 3,503,201 | 3,363,351 | 3,182,690 | 3,007,357 | 2,790,230 | 2,601,725 | 2,543,615 | 2,499,388 | 2,461,226 | 2,457,936 | 2,320,105 | 2,245,418 | 2,208,523 | 2,183,497 | 2,119,856 | 2,069,209 | 1,944,479 | 1,761,776 | 1,652,918 |
| Receivables | US$ in thousands | 541,932 | 562,978 | 495,302 | 434,186 | 493,704 | 455,913 | 428,902 | 403,138 | 398,627 | 381,605 | 413,618 | 384,866 | 404,869 | 410,849 | 350,643 | 360,255 | 402,966 | 534,823 | 432,825 | 437,820 |
| Receivables turnover | 6.72 | 6.22 | 6.79 | 7.33 | 6.09 | 6.12 | 6.07 | 6.31 | 6.27 | 6.45 | 5.94 | 6.03 | 5.55 | 5.38 | 6.23 | 5.88 | 5.13 | 3.64 | 4.07 | 3.78 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,643,182K ÷ $541,932K
= 6.72
MYR Group Inc's receivables turnover ratio measures how efficiently the company collects payments from its customers. The receivables turnover ratio for MYR Group Inc fluctuated over the past eight quarters, ranging from 6.21 to 7.49.
In Q4 2023, the receivables turnover was 6.93, indicating that the company collected its accounts receivable approximately 6.93 times during the quarter. This signifies that MYR Group Inc was able to convert its accounts receivable into cash almost 7 times during the period, reflecting a relatively efficient collection process.
The trend in receivables turnover shows some variability but generally remains within a relatively narrow range. A higher turnover ratio suggests a faster collection of receivables, which is indicative of effective credit policies and efficient collections processes.
Overall, MYR Group Inc's receivables turnover ratios suggest consistent and effective management of its accounts receivable, contributing positively to the company's liquidity and efficient working capital management.
Peer comparison
Dec 31, 2023