Norwegian Cruise Line Holdings Ltd (NCLH)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,787,020 | 3,910,760 | 647,986 | 1,162,120 | 6,185,140 |
| Receivables | US$ in thousands | 280,271 | 326,272 | 1,167,470 | 20,578 | 75,109 |
| Receivables turnover | 27.78 | 11.99 | 0.56 | 56.47 | 82.35 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,787,020K ÷ $280,271K
= 27.78
The receivables turnover ratio for Norwegian Cruise Line Holdings Ltd has varied significantly over the past five years. In 2019 and 2020, the company had high receivables turnover ratios of 86.04 and 62.20, respectively, indicating that it was collecting its accounts receivable relatively quickly. However, this trend reversed in 2021, where the ratio plummeted to a mere 0.56, reflecting a substantial decrease in the efficiency of collecting receivables during that period.
The company managed to improve its receivables turnover significantly in 2022, with a ratio of 14.85, although it was still below the levels seen in the previous years. Subsequently, in 2023, the ratio increased further to 30.51, indicating a continued recovery in the efficiency of the company's accounts receivable management.
Overall, the fluctuation in Norwegian Cruise Line Holdings Ltd's receivables turnover ratios suggests varying effectiveness in managing its accounts receivable over the years. The company's ability to swiftly collect outstanding receivables improved in recent years, albeit not yet reaching the levels achieved in 2019 and 2020. Monitoring this ratio in conjunction with other financial metrics can provide valuable insights into the company's operational efficiency and liquidity management.
Peer comparison
Dec 31, 2023