Neogen Corporation (NEOG)
Receivables turnover
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,616,090 | 1,054,320 | 936,918 | 836,340 | 828,372 |
| Receivables | US$ in thousands | 153,253 | 99,674 | 91,823 | 84,681 | 82,582 |
| Receivables turnover | 10.55 | 10.58 | 10.20 | 9.88 | 10.03 |
May 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,616,090K ÷ $153,253K
= 10.55
The receivables turnover for Neogen Corp. has shown a generally increasing trend over the past five years. The ratio increased from 5.02 in 2019 to 5.37 in 2023. This indicates that the company's ability to collect funds from its customers has been improving. A rising receivables turnover ratio suggests that Neogen Corp. has been more efficient in converting its credit sales into cash, which is a positive sign of effective credit management and collection efforts. Overall, the increasing trend in receivables turnover signifies a healthy liquidity position and effective credit management by Neogen Corp.
Peer comparison
May 31, 2023