NeoGenomics Inc (NEO)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 601,638 | 508,222 | 479,247 | 436,029 | 404,099 |
| Receivables | US$ in thousands | 131,227 | 119,711 | 112,130 | 106,843 | 94,242 |
| Receivables turnover | 4.58 | 4.25 | 4.27 | 4.08 | 4.29 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $601,638K ÷ $131,227K
= 4.58
Neogenomics Inc.'s receivables turnover has varied over the past five years, ranging from 4.16 to 4.51. The increasing trend from 2020 to 2023 indicates that the company has been able to collect its accounts receivable more efficiently. A higher receivables turnover ratio suggests that the company is collecting outstanding receivables more quickly, which could indicate strong customer collections and effective credit policies. Overall, the increasing trend in receivables turnover is a positive sign for Neogenomics Inc.'s liquidity and operational efficiency in managing its accounts receivable.