Norwegian Cruise Line Holdings Ltd (NCLH)

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	7,787,490	7,249,679	6,348,249	5,189,539	3,722,459	3,465,267	1,973,871	959,849	636,309	158,451	23,565	25,926	1,289,606	2,760,647	4,678,029	6,332,440	6,465,390	6,365,960	6,300,220	6,173,950
Receivables	US$ in thousands	280,271	239,416	219,116	259,289	326,272	393,118	598,256	544,961	1,167,470	990,384	422,598	18,581	20,578	78,496	74,213	96,277	75,109	67,698	75,134	57,054
Receivables turnover		27.79	30.28	28.97	20.01	11.41	8.81	3.30	1.76	0.55	0.16	0.06	1.40	62.67	35.17	63.04	65.77	86.08	94.03	83.85	108.21

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $7,787,490K ÷ $280,271K
= 27.79

The receivables turnover for Norwegian Cruise Line Holdings Ltd has shown a general upward trend over the past eight quarters, indicating an improvement in the efficiency of collecting receivables. In Q4 2023, the receivables turnover stood at 30.51, reflecting a strong performance in converting receivables into cash during that period. Compared to Q1 2022, where the turnover was only 2.14, there has been a significant increase in efficiency.

The significant increase in receivables turnover from Q1 2022 to Q4 2023 suggests that the company has been better able to manage its accounts receivable and collect payments from customers in a timelier manner. This may be attributed to improved credit policies, effective collection processes, or a reduction in outstanding receivables.

Overall, the increasing trend in receivables turnover is a positive indicator of the company's liquidity and operational efficiency. It demonstrates that Norwegian Cruise Line Holdings Ltd is effectively managing its receivables, which is crucial for maintaining a healthy cash flow and sustaining its business operations.