Neurocrine Biosciences Inc (NBIX)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,883,200	1,411,600	1,107,700	994,700	756,124
Receivables	US$ in thousands	439,300	350,000	187,700	160,800	126,575
Receivables turnover		4.29	4.03	5.90	6.19	5.97

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $1,883,200K ÷ $439,300K
= 4.29

The receivables turnover ratio measures the efficiency of Neurocrine Biosciences, Inc. in collecting outstanding receivables from its customers over a specific period. A higher ratio indicates that the company is collecting its accounts receivable more quickly.

From the data provided, it can be observed that Neurocrine Biosciences, Inc.'s receivables turnover has fluctuated over the past five years. In 2023, the receivables turnover ratio was 4.30, slightly higher than the previous year's ratio of 4.25. This indicates that the company collected its accounts receivable slightly more efficiently in 2023 compared to 2022.

However, there was a noticeable drop in the receivables turnover ratio in 2021 to 6.11 from 6.66 in 2020. Despite this decrease, the ratio remained relatively high, indicating that Neurocrine Biosciences, Inc. was still efficient in collecting on its receivables.

Comparing the data to the ratio of 6.23 in 2019, it can be seen that the company's accounts receivable turnover has been relatively stable over the past five years, with variations within a reasonable range.

Overall, the trend in Neurocrine Biosciences, Inc.'s receivables turnover suggests that the company has been effective in managing its accounts receivable and collecting payments from customers in a timely manner over the years.